GSA Capital Partners LLP Buys Shares of 135,704 Arlo Technologies, Inc. (NYSE:ARLO)

Key Points

• GSA Capital Partners LLP acquired a new stake in Arlo Technologies, purchasing 135,704 shares valued at approximately $1.34 million, representing a 0.13% ownership in the company.
• Despite recent insider sales, institutional investors hold a substantial 83.18% of Arlo Technologies' stock, reflecting confidence in the company's future.
• BWS Financial has reaffirmed a "buy" rating for Arlo Technologies, setting a target price of $24.00 per share.

GSA Capital Partners LLP bought a new stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 135,704 shares of the company's stock, valued at approximately $1,339,000. GSA Capital Partners LLP owned about 0.13% of Arlo Technologies as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Arlo Technologies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock worth $109,902,000 after acquiring an additional 166,823 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of 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 acquiring an additional 790,549 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock worth $24,838,000 after acquiring an additional 26,803 shares during the last quarter. Northern Trust Corp boosted its stake in Arlo Technologies by 11.7% in the 4th quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock valued at $19,147,000 after purchasing an additional 179,288 shares during the period. Finally, Emerald Advisers LLC boosted its stake in Arlo Technologies by 0.8% in the 1st quarter. Emerald Advisers LLC now owns 1,679,789 shares of the company's stock valued at $16,580,000 after purchasing an additional 13,307 shares during the period. Institutional investors and hedge funds own 83.18% of the company's stock.

Wall Street Analysts Forecast Growth

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

Arlo Technologies Trading Down 2.7%

ARLO traded down $0.43 on Friday, reaching $15.77. The stock had a trading volume of 1,492,069 shares, compared to its average volume of 1,071,487. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.98. The firm has a 50-day moving average of $16.26 and a 200-day moving average of $12.85. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -71.68 and a beta of 1.85.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $119.07 million during the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 372,488 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $17.14, for a total value of $6,384,444.32. Following the transaction, the chief executive officer owned 2,290,493 shares in the company, valued at approximately $39,259,050.02. The trade was a 13.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 135,183 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $10.37, for a total value of $1,401,847.71. Following the sale, the chief financial officer directly owned 1,092,274 shares of the company's stock, valued at $11,326,881.38. This represents a 11.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,589,422 shares of company stock worth $25,306,428. Company 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.