New York State Common Retirement Fund Has $1.58 Million Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

New York State Common Retirement Fund trimmed its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,639 shares of the company's stock after selling 22,907 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Arlo Technologies worth $1,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARLO. Swiss National Bank increased its stake in Arlo Technologies by 3.2% during the fourth quarter. Swiss National Bank now owns 196,600 shares of the company's stock valued at $2,200,000 after acquiring an additional 6,100 shares during the period. Teacher Retirement System of Texas bought a new position in Arlo Technologies during the fourth quarter valued at about $214,000. American Century Companies Inc. grew its stake in shares of Arlo Technologies by 12.7% in the 4th quarter. American Century Companies Inc. now owns 59,174 shares of the company's stock valued at $662,000 after purchasing an additional 6,675 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Arlo Technologies in the 4th quarter valued at approximately $431,000. Finally, LPL Financial LLC grew its stake in shares of Arlo Technologies by 122.6% in the 4th quarter. LPL Financial LLC now owns 50,234 shares of the company's stock valued at $562,000 after purchasing an additional 27,665 shares during the period. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Stock Up 0.9%

NYSE:ARLO traded up $0.14 during trading hours on Monday, reaching $16.37. The company had a trading volume of 1,017,441 shares, compared to its average volume of 1,123,511. The stock has a 50-day moving average of $16.06 and a two-hundred day moving average of $12.73. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.98. The firm has a market capitalization of $1.70 billion, a PE ratio of -74.41 and a beta of 2.03.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 21.67% and a negative net margin of 4.29%. The firm had revenue of $119.07 million for the quarter, compared to analysts' expectations of $118.35 million. During the same period in the prior year, the business posted $0.09 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Monday, June 9th.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 92,247 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $17.17, for a total transaction of $1,583,880.99. Following the sale, the chief financial officer directly owned 923,527 shares in the company, valued at $15,856,958.59. This represents a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Busse sold 21,367 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.37, for a total value of $221,575.79. Following the transaction, the general counsel directly owned 656,785 shares in the company, valued at approximately $6,810,860.45. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,589,447 shares of company stock worth $25,137,645 in the last three months. Insiders own 3.80% 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.