Mackenzie Financial Corp cut its position in shares of Arlo Technologies, Inc. (NYSE:ARLO – Free Report) by 81.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,945 shares of the company’s stock after selling 47,185 shares during the quarter. Mackenzie Financial Corp’s holdings in Arlo Technologies were worth $143,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Emerald Advisers LLC purchased a new position in Arlo Technologies during the second quarter worth approximately $11,528,000. Emerald Mutual Fund Advisers Trust acquired a new position in Arlo Technologies in the second quarter valued at $9,413,000. Westwood Holdings Group Inc. grew its position in 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 period. Lord Abbett & CO. LLC acquired a new stake in Arlo Technologies during the first quarter worth about $8,282,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of 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 worth $7,916,000 after purchasing an additional 590,778 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
Arlo Technologies Stock Down 2.9 %
NYSE ARLO opened at $11.14 on Tuesday. The stock has a market cap of $1.09 billion, a PE ratio of -61.89 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 business has a 50 day moving average price of $12.09 and a two-hundred day moving average price of $12.78. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.
Analyst Ratings Changes
A number of analysts recently issued reports on ARLO shares. Roth Mkm increased their target price 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 reissued a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, September 27th.
Check Out Our Latest Report on Arlo Technologies
Insider Activity
In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $11.89 per share, with a total value of $105,131.38. Following the transaction, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 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. Company insiders own 3.80% of the company’s stock.
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.
See Also
- Five stocks we like better than Arlo Technologies
- The Most Important Warren Buffett Stock for Investors: His Own
- Ciena Stock Powers the AI Cloud Boom—Don’t Miss Out
- What Investors Need to Know to Beat the Market
- Affirm’s Path to Profitability Elevates with Interest Rate Cuts
- How to Invest in Insurance Companies: A Guide
- RPM International Thrives in Rate-Cut Driven Construction Rally
Receive News & Ratings for Arlo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arlo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.