Northern Trust Corp Sells 138,423 Shares of Arlo Technologies, Inc. $ARLO

Key Points

• Northern Trust Corp reduced its holdings in Arlo Technologies by 8.1%, now owning 1,572,693 shares valued at approximately $15.5 million.
• Recent transactions indicate notable insider selling, with CEO Matthew Blake Mcrae selling over 520,000 shares worth about $9 million, representing a 24.3% decrease in his position.
• Analysts have raised their price targets for Arlo Technologies, with Raymond James and Craig Hallum both setting new objectives of $22.00, indicating a positive outlook on the stock.

Northern Trust Corp lessened its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,572,693 shares of the company's stock after selling 138,423 shares during the quarter. Northern Trust Corp owned 1.52% of Arlo Technologies worth $15,522,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Arlo Technologies by 40.9% during the first 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. Fox Run Management L.L.C. purchased a new position in Arlo Technologies in the 1st quarter worth about $119,000. Wealth Enhancement Advisory Services LLC purchased a new position in Arlo Technologies during the 1st quarter valued at about $123,000. CWM LLC grew its stake in Arlo Technologies by 185.6% during the 1st quarter. CWM LLC now owns 12,826 shares of the company's stock valued at $127,000 after acquiring an additional 8,335 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Arlo Technologies during the 1st quarter valued at about $131,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ARLO shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $22.00 price target (up from $15.00) on shares of Arlo Technologies in a research report on Friday, August 8th. Zacks Research upgraded Arlo Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Wall Street Zen raised Arlo Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday. BWS Financial reissued a "buy" rating and issued a $26.00 target price (up previously from $24.00) on shares of Arlo Technologies in a research note on Monday, August 11th. Finally, Craig Hallum increased their price target on Arlo Technologies from $17.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $23.00.

Arlo Technologies Stock Performance

NYSE:ARLO traded down $0.09 during mid-day trading on Friday, hitting $18.16. 1,464,179 shares of the stock were exchanged, compared to its average volume of 1,827,805. The firm's 50-day simple moving average is $16.81 and its 200 day simple moving average is $13.79. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.25. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -259.32 and a beta of 1.75.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $129.41 million for the quarter, compared to analyst estimates of $123.33 million. Arlo Technologies had a negative return on equity of 6.69% and a negative net margin of 1.38%.The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Arlo Technologies has set its Q3 2025 guidance at 0.120-0.180 EPS. On average, analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 113,912 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.56, for a total transaction of $2,114,206.72. Following the completion of the sale, the chief financial officer directly owned 809,615 shares of the company's stock, valued at approximately $15,026,454.40. The trade was a 12.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 520,557 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $17.40, for a total value of $9,057,691.80. Following the completion of the transaction, the chief executive officer directly owned 1,621,835 shares of the company's stock, valued at approximately $28,219,929. This represents a 24.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,306,967 shares of company stock valued at $39,664,516 over the last three months. 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.