Arlo Technologies, Inc. (NYSE:ARLO) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd has increased its stake in Arlo Technologies by 277.6%, acquiring an additional 46,749 shares in the first quarter, bringing its total holdings to 63,590 shares valued at approximately $628,000.
• Other institutional investors including Vanguard Group Inc. and Wasatch Advisors LP have also increased their stakes in Arlo Technologies, highlighting significant institutional interest in the company.
• Despite a negative net margin of 4.29%, Arlo Technologies reported earnings per share of $0.15 for the last quarter, beating analysts' estimates and indicating potential growth from its current valuation.

XTX Topco Ltd raised its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 277.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 63,590 shares of the company's stock after buying an additional 46,749 shares during the period. XTX Topco Ltd owned about 0.06% of Arlo Technologies worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ARLO. GAMMA Investing LLC increased its stake in shares of Arlo Technologies by 40.9% during the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company's stock worth $71,000 after purchasing an additional 2,095 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Arlo Technologies during the first quarter worth approximately $123,000. CWM LLC lifted its holdings in Arlo Technologies by 185.6% in the 1st quarter. CWM LLC now owns 12,826 shares of the company's stock valued at $127,000 after purchasing an additional 8,335 shares in the last quarter. Bank of Montreal Can acquired a new stake in Arlo Technologies during the 4th quarter worth $130,000. Finally, Hsbc Holdings PLC raised its position in shares of Arlo Technologies by 9.7% in the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock valued at $140,000 after buying an additional 1,103 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Craig Hallum boosted their price target on shares of Arlo Technologies from $17.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James Financial reissued an "outperform" rating and issued a $22.00 target price (up from $15.00) on shares of Arlo Technologies in a research note on Friday. Finally, BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Monday, June 9th.

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 25,380 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $16.56, for a total transaction of $420,292.80. Following the transaction, the chief executive officer owned 1,461,705 shares of the company's stock, valued at approximately $24,205,834.80. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 92,247 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $17.17, for a total transaction of $1,583,880.99. Following the sale, the chief financial officer owned 923,527 shares in the company, valued at approximately $15,856,958.59. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,340,873 shares of company stock valued at $22,728,975 in the last quarter. 5.20% of the stock is owned by insiders.

Arlo Technologies Price Performance

Shares of ARLO traded up $0.39 during mid-day trading on Friday, reaching $16.82. The stock had a trading volume of 4,648,836 shares, compared to its average volume of 1,028,444. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $19.25. The business's fifty day moving average is $16.47 and its 200 day moving average is $12.96. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -76.45 and a beta of 1.85.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $129.41 million during the quarter, compared to analysts' expectations of $123.33 million. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. As a group, sell-side 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.