Inspire Investing LLC Sells 9,662 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Inspire Investing LLC decreased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 14.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,372 shares of the company’s stock after selling 9,662 shares during the quarter. Inspire Investing LLC owned 0.06% of Arlo Technologies worth $774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARLO. Emerald Advisers LLC bought a new position in Arlo Technologies in the 2nd quarter valued at $11,528,000. Emerald Mutual Fund Advisers Trust purchased a new position in Arlo Technologies in the 2nd quarter worth about $9,413,000. Lord Abbett & CO. LLC purchased a new stake in Arlo Technologies in the 1st quarter valued at about $8,282,000. Mutual of America Capital Management LLC boosted its position in Arlo Technologies by 3,624.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock valued at $7,916,000 after buying an additional 590,778 shares during the period. Finally, Swedbank AB bought a new position in Arlo Technologies in the 1st quarter worth about $6,958,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, August 9th. Roth Mkm increased their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Insider Transactions at Arlo Technologies

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

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $11.72 on Friday. The firm has a 50 day moving average of $13.10 and a 200 day moving average of $12.77. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -65.11 and a beta of 1.76. Arlo Technologies, Inc. has a 52 week low of $7.77 and a 52 week high of $17.64.

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

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.