Nuveen Asset Management LLC Sells 31,691 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Nuveen Asset Management LLC lessened its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 534,185 shares of the company's stock after selling 31,691 shares during the quarter. Nuveen Asset Management LLC owned 0.53% of Arlo Technologies worth $5,978,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Needham Investment Management LLC grew its holdings in Arlo Technologies by 2.4% during the 4th quarter. Needham Investment Management LLC now owns 1,295,000 shares of the company's stock worth $14,491,000 after acquiring an additional 30,000 shares during the last quarter. Millennium Management LLC grew its holdings in Arlo Technologies by 131.6% during the 4th quarter. Millennium Management LLC now owns 210,909 shares of the company's stock worth $2,360,000 after acquiring an additional 119,834 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Arlo Technologies during the 4th quarter valued at about $263,000. Deutsche Bank AG lifted its position in Arlo Technologies by 47.9% during the 4th quarter. Deutsche Bank AG now owns 83,197 shares of the company's stock valued at $931,000 after purchasing an additional 26,957 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new position in Arlo Technologies during the 4th quarter valued at about $280,000. Institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Arlo Technologies stock traded up $0.10 during trading hours on Monday, reaching $14.42. 1,049,610 shares of the company's stock traded hands, compared to its average volume of 875,398. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -57.68 and a beta of 1.81. The firm's 50 day moving average is $10.83 and its 200-day moving average is $11.38. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.03. The business 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%. Arlo Technologies's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Craig Hallum upped their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Roth Capital set a $22.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial restated a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Thursday, April 24th.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 6,593 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the sale, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew Blake Mcrae sold 259,227 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the sale, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,147,062 shares of company stock worth $12,620,137 in the last ninety days. Company insiders own 5.20% of the company's stock.

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.