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 reduced its position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,572,693 shares of the company's stock after selling 138,423 shares during the period. Northern Trust Corp owned 1.52% of Arlo Technologies worth $15,522,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ARLO. First Trust Advisors LP purchased a new stake in shares of Arlo Technologies in the fourth quarter worth about $620,000. Dimensional Fund Advisors LP increased its stake in Arlo Technologies by 44.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 82,765 shares of the company's stock worth $926,000 after acquiring an additional 25,627 shares during the last quarter. Hsbc Holdings PLC increased its stake in Arlo Technologies by 9.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock worth $140,000 after acquiring an additional 1,103 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Arlo Technologies by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,807 shares of the company's stock worth $916,000 after acquiring an additional 7,319 shares during the last quarter. Finally, Algert Global LLC increased its stake in Arlo Technologies by 3.2% during the fourth quarter. Algert Global LLC now owns 208,326 shares of the company's stock worth $2,331,000 after acquiring an additional 6,395 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Price Performance

Shares of ARLO traded down $0.09 during mid-day trading on Friday, reaching $18.16. 1,464,179 shares of the company's stock traded hands, compared to its average volume of 1,668,554. The stock has a market cap of $1.89 billion, a P/E ratio of -259.32 and a beta of 1.75. The stock's 50-day moving average is $16.81 and its two-hundred day moving average is $13.82. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $19.25.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $129.41 million during 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%.Arlo Technologies's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Arlo Technologies has set its Q3 2025 guidance at 0.120-0.180 EPS. Research analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related 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 value of $2,114,206.72. Following the completion of the sale, the chief financial officer owned 809,615 shares in the company, valued at approximately $15,026,454.40. The trade was a 12.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 520,557 shares of the business'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 sale, the chief executive officer owned 1,621,835 shares of the company's stock, valued at $28,219,929. The trade was a 24.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,306,967 shares of company stock valued at $39,664,516 in the last quarter. 3.80% of the stock is owned by company insiders.

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.