Mackenzie Financial Corp Purchases 17,892 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Mackenzie Financial Corp increased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,397 shares of the company's stock after acquiring an additional 17,892 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Arlo Technologies worth $900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AWM Investment Company Inc. boosted its holdings in Arlo Technologies by 168.3% during the fourth quarter. AWM Investment Company Inc. now owns 334,166 shares of the company's stock worth $3,739,000 after buying an additional 209,596 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Arlo Technologies by 47.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company's stock valued at $1,985,000 after buying an additional 56,799 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Arlo Technologies by 38.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company's stock valued at $16,503,000 after buying an additional 409,489 shares during the last quarter. Squarepoint Ops LLC grew its position in Arlo Technologies by 213.0% in the 4th quarter. Squarepoint Ops LLC now owns 178,672 shares of the company's stock worth $1,999,000 after purchasing an additional 121,582 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Arlo Technologies in the 4th quarter worth $166,000. Institutional investors and hedge funds own 83.18% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $11.04, for a total value of $2,208,000.00. Following the completion of the sale, the chief executive officer now owns 2,486,678 shares in the company, valued at $27,452,925.12. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian Busse sold 21,367 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 value of $221,575.79. Following the transaction, the general counsel now owns 656,785 shares in the company, valued at approximately $6,810,860.45. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 842,652 shares of company stock worth $8,982,031 in the last quarter. 5.20% of the stock is owned by insiders.

Arlo Technologies Stock Up 10.7%

Shares of ARLO stock traded up $1.57 during trading on Thursday, reaching $16.17. The company's stock had a trading volume of 2,296,844 shares, compared to its average volume of 879,313. The business has a fifty day moving average price of $11.20 and a 200-day moving average price of $11.48. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -64.66 and a beta of 1.81. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $119.07 million for the quarter, compared to the consensus estimate of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The business's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Research analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

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.