55,440 Shares in Arlo Technologies, Inc. (NYSE:ARLO) Acquired by First Trust Advisors LP

First Trust Advisors LP acquired a new stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,440 shares of the company's stock, valued at approximately $620,000. First Trust Advisors LP owned 0.06% of Arlo Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Emerald Advisers LLC lifted its position in shares of Arlo Technologies by 116.9% in the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company's stock valued at $18,648,000 after acquiring an additional 898,167 shares in the last quarter. Wasatch Advisors LP boosted its position in Arlo Technologies by 21.1% during the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock worth $50,773,000 after acquiring an additional 790,549 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Arlo Technologies during the 4th quarter valued at about $4,586,000. Brandes Investment Partners LP raised its holdings in Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock valued at $64,147,000 after acquiring an additional 375,903 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Arlo Technologies in the 4th quarter worth approximately $4,050,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Up 0.3%

NYSE:ARLO traded up $0.04 on Wednesday, reaching $13.76. The company's stock had a trading volume of 237,477 shares, compared to its average volume of 891,370. The stock has a 50 day moving average price of $10.05 and a 200 day moving average price of $11.14. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.64. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -54.96 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The firm had revenue of $119.07 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $12.03, for a total value of $3,118,500.81. Following the completion of the transaction, the chief executive officer now owns 2,945,905 shares of the company's stock, valued at approximately $35,439,237.15. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,147,062 shares of company stock valued at $12,620,137. Corporate insiders own 5.20% of the company's stock.

Analyst Ratings Changes

ARLO has been the subject of a number of analyst reports. Craig Hallum upped their price target on 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 target on shares of Arlo Technologies 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 report on Thursday, April 24th.

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.