Westwood Holdings Group Inc. Grows Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Westwood Holdings Group Inc. grew its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 38.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,474,778 shares of the company's stock after purchasing an additional 409,489 shares during the period. Westwood Holdings Group Inc. owned approximately 1.47% of Arlo Technologies worth $16,503,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its position in shares of Arlo Technologies by 234.5% during the 3rd quarter. Barclays PLC now owns 185,281 shares of the company's stock valued at $2,244,000 after purchasing an additional 129,889 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after purchasing an additional 2,284 shares in the last quarter. Amundi grew its position in shares of Arlo Technologies by 163.1% during the 4th quarter. Amundi now owns 102,633 shares of the company's stock valued at $1,218,000 after purchasing an additional 63,622 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Arlo Technologies during the 4th quarter valued at $121,000. Finally, Swedbank AB grew its position in shares of Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company's stock valued at $13,428,000 after purchasing an additional 100,000 shares in the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ARLO shares. Craig Hallum boosted their price target 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 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Finally, BWS Financial reaffirmed a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Thursday, April 24th.

Arlo Technologies Stock Performance

NYSE ARLO opened at $13.62 on Tuesday. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The company has a market capitalization of $1.41 billion, a P/E ratio of -54.48 and a beta of 1.81. The company has a fifty day moving average of $10.30 and a 200-day moving average of $11.25.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $119.07 million during 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%. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthew Blake Mcrae sold 26,435 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $304,002.50. Following the completion of the transaction, the chief executive officer now directly owns 3,205,132 shares of the company's stock, valued at approximately $36,859,018. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50. Following the transaction, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,147,062 shares of company stock valued at $12,620,137 over the last three months. 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.

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