GSA Capital Partners LLP Makes New Investment in 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 acquired a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 135,704 shares of the company's stock, valued at approximately $1,339,000. GSA Capital Partners LLP owned 0.13% of Arlo Technologies as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in shares of Arlo Technologies in the fourth quarter worth approximately $214,000. American Century Companies Inc. boosted its holdings in shares of Arlo Technologies by 12.7% in the 4th quarter. American Century Companies Inc. now owns 59,174 shares of the company's stock valued at $662,000 after purchasing an additional 6,675 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Arlo Technologies during the 4th quarter worth $431,000. LPL Financial LLC raised its position in shares of Arlo Technologies by 122.6% in the 4th quarter. LPL Financial LLC now owns 50,234 shares of the company's stock worth $562,000 after buying an additional 27,665 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Arlo Technologies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock valued at $109,902,000 after acquiring an additional 166,823 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.43 during midday trading on Friday, hitting $15.77. 1,492,069 shares of the company's stock traded hands, compared to its average volume of 1,071,487. The firm's fifty day moving average price is $16.26 and its two-hundred day moving average price is $12.84. 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 issued its quarterly earnings data on Thursday, May 8th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million for 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 firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, equities research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Arlo Technologies

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