241,715 Shares in Arlo Technologies, Inc. $ARLO Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 241,715 shares of the company's stock, valued at approximately $3,258,000. Legal & General Group Plc owned approximately 0.22% of Arlo Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in shares of Arlo Technologies by 763.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company's stock worth $28,000 after acquiring an additional 1,748 shares during the last quarter. Quarry LP boosted its stake in Arlo Technologies by 42.0% in the 3rd quarter. Quarry LP now owns 2,649 shares of the company's stock worth $45,000 after purchasing an additional 783 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in Arlo Technologies in the 3rd quarter worth approximately $86,000. EverSource Wealth Advisors LLC grew its position in Arlo Technologies by 1,682.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company's stock worth $95,000 after purchasing an additional 5,301 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Arlo Technologies during the 2nd quarter worth approximately $88,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arlo Technologies

In related news, CFO Kurtis Binder sold 27,297 shares of Arlo Technologies stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $15.52, for a total value of $423,649.44. Following the sale, the chief financial officer directly owned 442,110 shares in the company, valued at approximately $6,861,547.20. The trade was a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,775 shares of company stock worth $845,139 over the last three months. 2.90% of the stock is owned by insiders.

Arlo Technologies Stock Up 3.1%

Shares of ARLO stock opened at $13.90 on Friday. Arlo Technologies, Inc. has a 52-week low of $11.05 and a 52-week high of $19.94. The business has a 50-day simple moving average of $13.64 and a 200-day simple moving average of $13.57. The stock has a market cap of $1.51 billion, a PE ratio of 51.48 and a beta of 1.54.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. The firm had revenue of $155.94 million during the quarter, compared to analyst estimates of $148.94 million. Arlo Technologies had a net margin of 5.20% and a return on equity of 17.29%. The business's quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Arlo Technologies has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at 0.170-0.230 EPS. Sell-side analysts anticipate that Arlo Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer started coverage on shares of Arlo Technologies in a research note on Monday, May 18th. They set an "outperform" rating and a $20.00 price objective for the company. UBS Group set a $20.00 target price on Arlo Technologies in a research note on Monday, May 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $19.00 price target on shares of Arlo Technologies in a research report on Friday, May 8th. William Blair assumed coverage on Arlo Technologies in a report on Tuesday, July 7th. They issued an "outperform" rating on the stock. Finally, Piper Sandler raised their price objective on Arlo Technologies from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Arlo Technologies has an average rating of "Moderate Buy" and a consensus target price of $20.60.

Arlo Technologies Company Profile

Arlo Technologies, Inc NYSE: ARLO is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.

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