Divisadero Street Capital Management LP Buys Shares of 25,000 Arlo Technologies, Inc. (NYSE:ARLO)

Divisadero Street Capital Management LP purchased a new position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company's stock, valued at approximately $280,000.

Several other institutional investors have also recently made changes to their positions in ARLO. Smartleaf Asset Management LLC lifted its stake in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares in the last quarter. KBC Group NV increased its holdings in shares of Arlo Technologies by 106.8% in 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 purchased a new stake in shares of Arlo Technologies in the fourth quarter worth about $121,000. Hennessy Advisors Inc. boosted its stake in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $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 fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Up 3.9%

ARLO traded up $0.49 on Monday, hitting $12.92. The company had a trading volume of 709,843 shares, compared to its average volume of 888,554. The business's fifty day simple moving average is $10.03 and its 200 day simple moving average is $11.13. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.64. The company has a market cap of $1.34 billion, a PE ratio of -51.76 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 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $119.07 million during the quarter, compared to analysts' expectations of $118.35 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company's quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Craig Hallum lifted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. BWS Financial reissued a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Thursday, April 24th. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th.

Insider Activity

In related news, General Counsel Brian Busse sold 17,669 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total transaction of $196,302.59. Following the completion of the sale, the general counsel now directly owns 606,832 shares of the company's stock, valued at approximately $6,741,903.52. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 12,155 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 value of $139,782.50. Following the transaction, the chief financial officer now owns 837,906 shares of the company's stock, valued at approximately $9,635,919. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,164,731 shares of company stock valued at $12,816,439. 5.20% of the stock is currently owned by company insiders.

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.