Westwood Holdings Group Inc. Increases Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Westwood Holdings Group Inc. boosted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 38.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,474,778 shares of the company’s stock after acquiring an additional 409,489 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Arlo Technologies were worth $16,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Squarepoint Ops LLC grew its holdings in Arlo Technologies by 213.0% in the fourth quarter. Squarepoint Ops LLC now owns 178,672 shares of the company’s stock worth $1,999,000 after purchasing an additional 121,582 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Arlo Technologies during the fourth quarter valued at approximately $166,000. Sherbrooke Park Advisers LLC grew its holdings in shares of Arlo Technologies by 76.3% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 24,813 shares of the company’s stock valued at $278,000 after buying an additional 10,741 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Arlo Technologies by 48.0% during the fourth quarter. ProShare Advisors LLC now owns 29,516 shares of the company’s stock valued at $330,000 after buying an additional 9,567 shares during the last quarter. Finally, Needham Investment Management LLC grew its holdings in shares of Arlo Technologies by 2.4% during the fourth quarter. Needham Investment Management LLC now owns 1,295,000 shares of the company’s stock valued at $14,491,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 0.7%

Shares of Arlo Technologies stock opened at $13.62 on Tuesday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -54.48 and a beta of 1.81. The company’s 50 day moving average is $10.30 and its 200 day moving average is $11.25. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.64.

Arlo Technologies (NYSE:ARLO) last issued 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 the consensus estimate of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 6,593 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $75,819.50. Following the transaction, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 have sold a total of 1,147,062 shares of company stock worth $12,620,137 over the last quarter. Company insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

ARLO has been the topic of a number of recent analyst reports. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Thursday, April 24th. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a report on Friday, February 28th. Finally, Craig Hallum increased their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th.

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.