Squarepoint Ops LLC Buys 121,582 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Squarepoint Ops LLC lifted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 213.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,672 shares of the company's stock after purchasing an additional 121,582 shares during the period. Squarepoint Ops LLC owned 0.18% of Arlo Technologies worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after acquiring an additional 1,191 shares during the period. KBC Group NV increased its stake in Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock worth $69,000 after acquiring an additional 3,185 shares during the period. Ieq Capital LLC bought a new position in Arlo Technologies during the 4th quarter worth $121,000. Balboa Wealth Partners bought a new position in Arlo Technologies during the 4th quarter worth $129,000. Finally, Bank of Montreal Can bought a new position in Arlo Technologies during the 4th quarter worth $130,000. Institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Down 0.1%

ARLO traded down $0.02 during midday trading on Monday, hitting $14.30. 222,599 shares of the company were exchanged, compared to its average volume of 872,221. The firm has a market capitalization of $1.48 billion, a P/E ratio of -57.32 and a beta of 1.81. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.64. The firm's 50 day moving average price is $10.83 and its 200-day moving average price is $11.38.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 return on equity of 24.14% and a negative net margin of 4.76%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, sell-side analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 12,155 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the sale, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at $9,635,919. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $304,002.50. Following the sale, the chief executive officer now directly owns 3,205,132 shares of the company's stock, valued at $36,859,018. This represents a 0.82% 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 valued at $12,620,137 in the last ninety days. 5.20% 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.