AQR Capital Management LLC Sells 120,520 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

AQR Capital Management LLC cut its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 24.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 366,322 shares of the company’s stock after selling 120,520 shares during the period. AQR Capital Management LLC owned about 0.38% of Arlo Technologies worth $4,777,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in shares of Arlo Technologies in the 2nd quarter worth about $33,000. GAMMA Investing LLC lifted its position in Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after buying an additional 840 shares during the last quarter. CWM LLC lifted its position in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after buying an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Arlo Technologies in the second quarter worth approximately $62,000. Finally, Hennessy Advisors Inc. bought a new position in Arlo Technologies during the second quarter valued at approximately $138,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

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

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 4.19% and a negative return on equity of 20.75%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) EPS. Analysts expect that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s 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 owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction 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 transaction, the director now directly 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 disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Arlo Technologies 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.