Balyasny Asset Management L.P. Has $801,000 Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Balyasny Asset Management L.P. trimmed its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 43.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,609 shares of the company's stock after selling 54,779 shares during the period. Balyasny Asset Management L.P. owned about 0.07% of Arlo Technologies worth $801,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Arlo Technologies by 104.5% in the 4th 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 raised its position in shares of Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after purchasing an additional 3,185 shares in the last quarter. Ieq Capital LLC bought a new position in Arlo Technologies during the 4th quarter worth $121,000. Hennessy Advisors Inc. grew its stake in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock worth $124,000 after buying an additional 965 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in Arlo Technologies during the 4th quarter worth $129,000. 83.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARLO shares. BWS Financial restated a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Thursday, April 24th. Roth Capital set a $22.00 price target on Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th.

Arlo Technologies Trading Down 0.5%

ARLO stock traded down $0.08 during trading hours on Friday, hitting $13.72. 682,358 shares of the stock traded hands, compared to its average volume of 882,738. The stock has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $11.22. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.64. The company has a market cap of $1.42 billion, a P/E ratio of -54.86 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The business had revenue of $119.07 million during the quarter, compared to analysts' expectations of $118.35 million. During the same quarter last year, the business posted $0.09 earnings per share. The company's quarterly revenue was down 4.1% on a year-over-year basis. Analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 12,155 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the sale, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 6,593 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $75,819.50. Following the completion of the sale, the general counsel now directly owns 612,743 shares of the company's stock, valued at approximately $7,046,544.50. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,147,062 shares of company stock valued at $12,620,137 over the last three months. Insiders own 5.20% 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.