DDD Partners LLC Acquires Shares of 62,658 Arlo Technologies, Inc. (NYSE:ARLO)

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

Several other large investors have also added to or reduced their stakes in ARLO. Hsbc Holdings PLC boosted its position in Arlo Technologies by 9.7% in the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock worth $140,000 after purchasing an additional 1,103 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Arlo Technologies by 3.3% in the first quarter. OneDigital Investment Advisors LLC now owns 36,262 shares of the company's stock worth $358,000 after buying an additional 1,154 shares in the last quarter. California State Teachers Retirement System lifted its stake in Arlo Technologies by 1.3% in the 4th quarter. California State Teachers Retirement System now owns 93,320 shares of the company's stock worth $1,044,000 after purchasing an additional 1,232 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Arlo Technologies by 40.9% during the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company's stock worth $71,000 after purchasing an additional 2,095 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Arlo Technologies by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 58,223 shares of the company's stock valued at $652,000 after purchasing an additional 3,221 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Shares of NYSE ARLO traded up $0.15 during midday trading on Thursday, reaching $16.36. 781,702 shares of the stock were exchanged, compared to its average volume of 911,529. The company has a 50 day simple moving average of $15.54 and a 200 day simple moving average of $12.44. The stock has a market capitalization of $1.70 billion, a P/E ratio of -74.27 and a beta of 2.03. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.98.

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 net margin of 4.29% and a negative return on equity of 21.67%. The business had revenue of $119.07 million during the quarter, compared to analysts' expectations of $118.35 million. During the same period last year, the business earned $0.09 earnings per share. The business's revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kurtis Joseph Binder sold 92,247 shares of Arlo Technologies 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 transaction, the chief financial officer directly owned 923,527 shares in the company, valued at approximately $15,856,958.59. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 113,322 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $17.22, for a total transaction of $1,951,404.84. Following the completion of the sale, the chief executive officer directly owned 1,439,735 shares in the company, 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. Insiders have sold a total of 1,589,447 shares of company stock worth $25,137,645 in the last ninety days. 5.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.