Squarepoint Ops LLC Grows Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Squarepoint Ops LLC boosted its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,975 shares of the company’s stock after acquiring an additional 7,143 shares during the quarter. Squarepoint Ops LLC owned 0.09% of Arlo Technologies worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board boosted its position in Arlo Technologies by 9.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 214,742 shares of the company’s stock valued at $2,800,000 after buying an additional 18,377 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Arlo Technologies by 289.7% during the second quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock valued at $12,274,000 after acquiring an additional 699,724 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Arlo Technologies during the second quarter worth about $287,000. Mutual of America Capital Management LLC grew its stake in shares of Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after purchasing an additional 590,778 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Arlo Technologies by 12.2% in the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after purchasing an additional 154,100 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Roth Mkm increased their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a 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 research note on Friday, September 27th.

Insider Buying and Selling

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the company’s 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 sale, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.47 on Friday. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $17.64. The company has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $12.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The firm has a market capitalization of $1.12 billion, a PE ratio of -63.72 and a beta of 1.76.

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

Arlo Technologies Company Profile

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.