Emerald Advisers LLC Invests $11.53 Million in Arlo Technologies, Inc. (NYSE:ARLO)

Emerald Advisers LLC purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 884,047 shares of the company’s stock, valued at approximately $11,528,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in Arlo Technologies during the 1st quarter worth approximately $885,000. Charles Schwab Investment Management Inc. raised its position in Arlo Technologies by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after acquiring an additional 58,620 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Arlo Technologies in the fourth quarter valued at $5,314,000. Allspring Global Investments Holdings LLC boosted its position in shares of Arlo Technologies by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after purchasing an additional 6,757 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Arlo Technologies during the 1st quarter worth $797,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the 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 sale, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Amy M. Rothstein sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.37, for a total transaction of $334,250.00. Following the transaction, the director now owns 76,271 shares of the company’s stock, valued at $1,019,743.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction that occurred 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 sale, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Arlo Technologies Trading Down 1.8 %

NYSE:ARLO opened at $11.02 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of -61.22 and a beta of 1.76. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. Arlo Technologies, Inc. has a 52-week low of $7.77 and a 52-week high of $17.64. The stock has a fifty day simple moving average of $13.72 and a 200-day simple moving average of $12.67.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $127.45 million during the quarter, compared to the consensus estimate 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 for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. On average, equities research analysts expect that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.