Wellington Management Group LLP Takes Position in Arlo Technologies, Inc. (NYSE:ARLO)

Wellington Management Group LLP purchased a new position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 361,900 shares of the company's stock, valued at approximately $4,050,000. Wellington Management Group LLP owned about 0.35% of Arlo Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Arlo Technologies by 104.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after acquiring an additional 1,191 shares during the period. KBC Group NV increased its position 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 purchasing an additional 3,185 shares in the last quarter. Ieq Capital LLC acquired a new stake in Arlo Technologies during the 4th quarter worth approximately $121,000. Balboa Wealth Partners purchased a new position in Arlo Technologies in the fourth quarter valued at approximately $129,000. Finally, Bank of Montreal Can acquired a new position in Arlo Technologies during the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Insider Buying and Selling at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 200,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company's stock, valued at approximately $27,452,925.12. The trade was a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,975,102.30. Following the transaction, the chief financial officer now directly owns 977,457 shares of the company's stock, valued at $10,458,789.90. This represents a 15.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 842,652 shares of company stock valued at $8,982,031 in the last quarter. Corporate insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Arlo Technologies Stock Up 3.6%

Shares of NYSE ARLO traded up $0.59 during trading on Friday, reaching $16.80. 1,854,368 shares of the stock were exchanged, compared to its average volume of 883,197. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -67.20 and a beta of 1.81. The business's 50-day moving average price is $11.20 and its 200 day moving average price is $11.48. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share (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 firm had revenue of $119.07 million for the quarter, compared to analysts' expectations of $118.35 million. During the same period last year, the business posted $0.09 earnings per share. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

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.