Needham Investment Management LLC Purchases 30,000 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Needham Investment Management LLC lifted its stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,295,000 shares of the company's stock after buying an additional 30,000 shares during the period. Needham Investment Management LLC owned approximately 1.29% of Arlo Technologies worth $14,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ARLO. Vanguard Group Inc. lifted its holdings in Arlo Technologies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock worth $109,902,000 after buying an additional 166,823 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Arlo Technologies by 7.0% in the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock worth $64,147,000 after buying an additional 375,903 shares during the period. Wasatch Advisors LP raised its holdings in shares of 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 in the last quarter. Geode Capital Management LLC raised its holdings in Arlo Technologies by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock valued at $24,838,000 after buying an additional 26,803 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Arlo Technologies by 11.7% in the fourth quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock worth $19,147,000 after purchasing an additional 179,288 shares during the period. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Arlo Technologies stock traded down $0.08 during midday trading on Friday, reaching $13.72. 682,358 shares of the company's stock were exchanged, compared to its average volume of 883,658. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.64. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -54.86 and a beta of 1.81. The stock's 50-day simple moving average is $10.24 and its 200 day simple moving average is $11.22.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued 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 net margin of 4.76% and a negative return on equity of 24.14%. The firm had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. During the same period last year, the business posted $0.09 earnings per share. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 26,435 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $304,002.50. Following the sale, the chief executive officer now owns 3,205,132 shares of the company's stock, valued at $36,859,018. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Brian Busse sold 21,367 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $221,575.79. Following the completion of the transaction, the general counsel now owns 656,785 shares in the company, valued at approximately $6,810,860.45. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,147,062 shares of company stock worth $12,620,137 over the last three months. Corporate insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARLO shares. Craig Hallum upped their price objective 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 set a $24.00 price objective on shares of Arlo Technologies in a research note on Thursday, April 24th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a research note on Friday, February 28th.

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.