State of Wyoming Cuts Position in Arlo Technologies, Inc. (NYSE:ARLO)

State of Wyoming reduced its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,741 shares of the company’s stock after selling 18,841 shares during the period. State of Wyoming’s holdings in Arlo Technologies were worth $657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after purchasing an additional 1,191 shares in the last quarter. KBC Group NV grew its holdings in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after purchasing an additional 3,185 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Arlo Technologies during the fourth quarter worth about $121,000. Hennessy Advisors Inc. increased its position in shares of Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares in the last quarter. Finally, Balboa Wealth Partners purchased a new stake in shares of Arlo Technologies in the 4th quarter valued at about $129,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ARLO shares. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Thursday, April 24th.

Insider Activity

In other Arlo Technologies news, General Counsel Brian Busse sold 6,593 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the sale, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $304,002.50. Following the sale, the chief executive officer now owns 3,205,132 shares in the company, valued at $36,859,018. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,147,062 shares of company stock valued at $12,620,137 in the last three months. 5.20% of the stock is currently owned by company insiders.

Arlo Technologies Stock Down 0.5%

Shares of NYSE:ARLO opened at $13.72 on Monday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64. The firm’s 50-day simple moving average is $10.24 and its 200-day simple moving average is $11.23. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -54.86 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. On average, research analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current 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.