Arlo Technologies, Inc. (NYSE:ARLO) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,711,116 shares of the company's stock after acquiring an additional 179,288 shares during the period. Northern Trust Corp owned about 1.71% of Arlo Technologies worth $19,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Arlo Technologies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock valued at $109,902,000 after acquiring an additional 166,823 shares during the last quarter. Brandes Investment Partners LP lifted its position in Arlo Technologies by 7.0% in the fourth 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. Wasatch Advisors LP lifted its position in Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock valued at $50,773,000 after acquiring an additional 790,549 shares during the last quarter. Geode Capital Management LLC lifted its position in Arlo Technologies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock valued at $24,838,000 after acquiring an additional 26,803 shares during the last quarter. Finally, Emerald Advisers LLC lifted its position in 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 during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Price Performance

Shares of NYSE:ARLO traded down $0.08 on Friday, reaching $13.72. The company's stock had a trading volume of 682,358 shares, compared to its average volume of 883,658. The stock's 50-day moving average is $10.24 and its two-hundred day moving average is $11.22. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The stock has a market capitalization of $1.42 billion, a P/E ratio of -54.86 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $119.07 million during the quarter, compared to analysts' expectations of $118.35 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. Equities analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at Arlo Technologies

In other Arlo Technologies 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 transaction, the chief executive officer now directly owns 3,205,132 shares in the company, valued at approximately $36,859,018. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following the transaction, the chief financial officer now owns 837,906 shares in the company, valued at $9,635,919. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,147,062 shares of company stock worth $12,620,137 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARLO. BWS Financial reissued a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Thursday, April 24th. Craig Hallum upped their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on shares of Arlo Technologies in a report on Friday, February 28th.

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.