Wellington Management Group LLP Sells 176,900 Shares of Arlo Technologies, Inc. $ARLO

Key Points

• Wellington Management Group LLP significantly reduced its stake in Arlo Technologies by 48.9%, selling 176,900 shares and now owning about 0.18% of the company.
• CEO Matthew Blake Mcrae and CFO Kurtis Joseph Binder both sold large amounts of Arlo stock recently, leading to a 24.30% and 12.33% decrease in their respective holdings.
• Wall Street analysts have expressed optimism for Arlo Technologies, with several firms raising their price targets, resulting in an average target price of $23.00 and an overall "Buy" rating for the stock.

Wellington Management Group LLP cut its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 48.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 185,000 shares of the company's stock after selling 176,900 shares during the period. Wellington Management Group LLP owned approximately 0.18% of Arlo Technologies worth $1,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ARLO. Vanguard Group Inc. grew its stake in Arlo Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company's stock worth $98,244,000 after buying an additional 132,350 shares during the last quarter. Northern Trust Corp boosted its stake in Arlo Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock valued at $19,147,000 after buying an additional 179,288 shares in the last quarter. Emerald Advisers LLC boosted its stake in Arlo Technologies by 0.8% during the first quarter. Emerald Advisers LLC now owns 1,679,789 shares of the company's stock valued at $16,580,000 after buying an additional 13,307 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Arlo Technologies by 38.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company's stock valued at $16,503,000 after buying an additional 409,489 shares in the last quarter. Finally, Needham Investment Management LLC lifted its stake in Arlo Technologies by 2.4% in the 4th quarter. Needham Investment Management LLC now owns 1,295,000 shares of the company's stock worth $14,491,000 after acquiring an additional 30,000 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 520,557 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $17.40, for a total transaction of $9,057,691.80. Following the sale, the chief executive officer owned 1,621,835 shares of the company's stock, valued at $28,219,929. This represents a 24.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurtis Joseph Binder sold 113,912 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.56, for a total value of $2,114,206.72. Following the completion of the transaction, the chief financial officer owned 809,615 shares of the company's stock, valued at $15,026,454.40. The trade was a 12.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,306,967 shares of company stock worth $39,664,516 in the last ninety days. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and issued a $22.00 price objective (up from $15.00) on shares of Arlo Technologies in a research note on Friday, August 8th. Craig Hallum upped their target price on Arlo Technologies from $17.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price (up from $24.00) on shares of Arlo Technologies in a research report on Monday, August 11th. Finally, Zacks Research raised Arlo Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Arlo Technologies has a consensus rating of "Buy" and a consensus target price of $23.00.

Arlo Technologies Price Performance

Shares of Arlo Technologies stock traded down $0.29 during midday trading on Thursday, hitting $18.12. 629,089 shares of the company were exchanged, compared to its average volume of 1,103,016. The firm has a 50 day simple moving average of $16.78 and a 200-day simple moving average of $13.70. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $19.25. The firm has a market cap of $1.89 billion, a P/E ratio of -258.81 and a beta of 1.75.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $129.41 million during the quarter, compared to analysts' expectations of $123.33 million. Arlo Technologies had a negative return on equity of 6.69% and a negative net margin of 1.38%.The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Arlo Technologies has set its Q3 2025 guidance at 0.120-0.180 EPS. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

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.