Squarepoint Ops LLC Raises Position in Arlo Technologies, Inc. (NYSE:ARLO)

Squarepoint Ops LLC boosted its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 213.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 178,672 shares of the company's stock after buying an additional 121,582 shares during the period. Squarepoint Ops LLC owned approximately 0.18% of Arlo Technologies worth $1,999,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ARLO. Arizona State Retirement System increased its position in Arlo Technologies by 3.2% during the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock valued at $325,000 after acquiring an additional 907 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock worth $1,029,000 after purchasing an additional 1,018 shares during the period. Hsbc Holdings PLC grew its holdings in Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock valued at $140,000 after purchasing an additional 1,103 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares during the period. Finally, Sanctuary Advisors LLC raised its position in Arlo Technologies by 5.0% in the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock worth $555,000 after purchasing an additional 2,284 shares during the period. 83.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the company'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 value of $139,782.50. Following the completion of the sale, the chief financial officer now owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian Busse sold 6,593 shares of Arlo Technologies 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 transaction, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,147,062 shares of company stock worth $12,620,137. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Arlo Technologies Trading Up 0.7%

Shares of Arlo Technologies stock traded up $0.10 on Monday, hitting $14.42. 1,049,611 shares of the company traded hands, compared to its average volume of 875,398. The company has a market cap of $1.50 billion, a PE ratio of -57.68 and a beta of 1.81. The stock's 50 day moving average price is $10.90 and its 200-day moving average price is $11.40. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The company had revenue of $119.07 million for the quarter, compared to the consensus estimate of $118.35 million. During the same period last year, the business posted $0.09 EPS. Arlo Technologies's quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

About Arlo Technologies

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.