DDD Partners LLC Acquires New Stake in Arlo Technologies, Inc. (NYSE:ARLO)

DDD Partners LLC purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,658 shares of the company's stock, valued at approximately $618,000. DDD Partners LLC owned 0.06% of Arlo Technologies as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. CWM LLC lifted its stake in shares of Arlo Technologies by 185.6% during the 1st quarter. CWM LLC now owns 12,826 shares of the company's stock worth $127,000 after purchasing an additional 8,335 shares during the period. Emerald Advisers LLC lifted its stake in shares of Arlo Technologies by 0.8% during the 1st quarter. Emerald Advisers LLC now owns 1,679,789 shares of the company's stock worth $16,580,000 after purchasing an additional 13,307 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Arlo Technologies by 10.8% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 970,408 shares of the company's stock worth $9,578,000 after purchasing an additional 94,443 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Arlo Technologies by 11.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,639 shares of the company's stock worth $549,000 after purchasing an additional 5,928 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Arlo Technologies by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 720,618 shares of the company's stock worth $7,113,000 after purchasing an additional 15,811 shares during the period. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Shares of ARLO traded up $0.09 during trading hours on Friday, hitting $16.33. The stock had a trading volume of 1,405,125 shares, compared to its average volume of 916,716. The firm has a market cap of $1.69 billion, a P/E ratio of -74.23 and a beta of 2.03. The company's fifty day simple moving average is $15.73 and its 200 day simple moving average is $12.52. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.98.

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

Analyst Upgrades and Downgrades

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

Insider Activity at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 92,247 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $17.17, for a total value of $1,583,880.99. Following the completion of the sale, the chief financial officer directly owned 923,527 shares in the company, valued at approximately $15,856,958.59. This represents a 9.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 113,322 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $17.22, for a total value of $1,951,404.84. Following the completion of the sale, the chief executive officer owned 1,439,735 shares of the company's stock, valued at approximately $24,792,236.70. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,589,447 shares of company stock worth $25,137,645. Corporate insiders own 5.20% 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.