Susquehanna Fundamental Investments LLC Cuts Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Susquehanna Fundamental Investments LLC lessened its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 22.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,581 shares of the company’s stock after selling 34,907 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.12% of Arlo Technologies worth $1,572,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new position in shares of Arlo Technologies during the second quarter worth $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares in the last quarter. CWM LLC boosted its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Arlo Technologies during the 2nd quarter valued at approximately $62,000. Finally, Hennessy Advisors Inc. purchased a new stake in Arlo Technologies during the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ralph E. Faison purchased 8,842 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the transaction, the director now owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Stock Down 3.0 %

NYSE:ARLO opened at $11.75 on Wednesday. The stock has a 50-day simple moving average of $12.53 and a 200 day simple moving average of $12.82. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $17.64. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -65.28 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $127.45 million during the quarter, compared to analyst estimates of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. Sell-side analysts predict that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARLO. Roth Mkm raised their price target on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th.

About Arlo Technologies

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.