D. E. Shaw & Co. Inc. Purchases Shares of 23,542 Arlo Technologies, Inc. (NYSE:ARLO)

D. E. Shaw & Co. Inc. purchased a new stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 23,542 shares of the company's stock, valued at approximately $263,000.

A number of other large investors also recently added to or reduced their stakes in ARLO. Arizona State Retirement System boosted its stake in shares of Arlo Technologies by 3.2% in the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock worth $325,000 after acquiring an additional 907 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock worth $1,029,000 after purchasing an additional 1,018 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Arlo Technologies by 9.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock worth $140,000 after buying an additional 1,103 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after buying an additional 1,191 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Arlo Technologies by 5.0% in the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after buying an additional 2,284 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a report on Thursday, April 24th. Craig Hallum raised their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Price Performance

Shares of NYSE ARLO traded up $0.67 during midday 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 877,390. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -57.68 and a beta of 1.81. The business's fifty day simple moving average is $10.75 and its two-hundred day simple moving average is $11.36. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. During the same period in the prior year, the business earned $0.09 EPS. The firm's quarterly revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 21,367 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total value of $221,575.79. Following the completion of the transaction, the general counsel now owns 656,785 shares in the company, valued at $6,810,860.45. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 259,227 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $12.03, for a total value of $3,118,500.81. Following the completion of the sale, the chief executive officer now owns 2,945,905 shares of the company's stock, valued at approximately $35,439,237.15. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,147,062 shares of company stock valued at $12,620,137 over the last quarter. 5.20% of the stock is owned by 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.