D. E. Shaw & Co. Inc. Takes $263,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

D. E. Shaw & Co. Inc. acquired a new stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,542 shares of the company's stock, valued at approximately $263,000.

A number of other large investors have also added to or reduced their stakes in the business. Emerald Advisers LLC raised its holdings in Arlo Technologies by 116.9% during the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company's stock worth $18,648,000 after purchasing an additional 898,167 shares during the last quarter. Wasatch Advisors LP raised its holdings in Arlo Technologies by 21.1% during the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock worth $50,773,000 after purchasing an additional 790,549 shares during the last quarter. Raymond James Financial Inc. bought a new position in Arlo Technologies during the 4th quarter worth approximately $4,586,000. Brandes Investment Partners LP raised its holdings in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock worth $64,147,000 after purchasing an additional 375,903 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Arlo Technologies during the 4th quarter worth approximately $4,050,000. Institutional investors own 83.18% of the company's stock.

Wall Street Analyst Weigh In

ARLO has been the subject of several research analyst reports. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum lifted their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, BWS Financial reiterated a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Thursday, April 24th.

Insider Buying and Selling

In related news, General Counsel Brian Busse sold 6,593 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the transaction, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $304,002.50. Following the transaction, the chief executive officer now owns 3,205,132 shares in the company, valued at approximately $36,859,018. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,147,062 shares of company stock worth $12,620,137. 5.20% of the stock is owned by corporate insiders.

Arlo Technologies Trading Up 4.9%

NYSE ARLO traded up $0.67 during mid-day trading on Friday, hitting $14.42. The company's stock had a trading volume of 1,930,897 shares, compared to its average volume of 874,709. The company's 50 day simple moving average is $10.83 and its 200 day simple moving average is $11.38. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.64. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -57.68 and a beta of 1.81.

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

Arlo Technologies 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.