Westwood Holdings Group Inc. Has $12.27 Million Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Westwood Holdings Group Inc. increased its position in Arlo Technologies, Inc. (NYSE:ARLO) by 289.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 941,237 shares of the company’s stock after buying an additional 699,724 shares during the period. Westwood Holdings Group Inc. owned 0.96% of Arlo Technologies worth $12,274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new position in shares of Arlo Technologies during the 1st quarter valued at about $885,000. Charles Schwab Investment Management Inc. raised its position in shares of Arlo Technologies by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock valued at $9,025,000 after purchasing an additional 58,620 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Arlo Technologies by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after buying an additional 6,757 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Arlo Technologies during the 1st quarter worth $797,000. Finally, Inspire Investing LLC acquired a new position in Arlo Technologies in the 1st quarter valued at $873,000. Institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Arlo Technologies Stock Up 0.6 %

ARLO stock opened at $11.72 on Friday. Arlo Technologies, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64. 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 cap of $1.14 billion, a PE ratio of -65.11 and a beta of 1.76. The business’s 50-day simple moving average is $13.10 and its 200 day simple moving average is $12.78.

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. 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 last year, the business earned ($0.08) earnings per share. Arlo Technologies’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

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 directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

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.