Prospect Capital Advisors LLC Has $5.13 Million Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Prospect Capital Advisors LLC cut its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 45.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 458,100 shares of the company's stock after selling 389,350 shares during the quarter. Arlo Technologies comprises 3.0% of Prospect Capital Advisors LLC's holdings, making the stock its 17th biggest position. Prospect Capital Advisors LLC owned approximately 0.46% of Arlo Technologies worth $5,126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC grew its position in shares of Arlo Technologies by 234.5% in 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 during the period. Sanctuary Advisors LLC grew its position in shares of Arlo Technologies by 5.0% in 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 during the period. Amundi lifted its stake in Arlo Technologies by 163.1% in the 4th quarter. Amundi now owns 102,633 shares of the company's stock valued at $1,218,000 after acquiring an additional 63,622 shares in the last quarter. Ieq Capital LLC bought a new stake in Arlo Technologies in the 4th quarter valued at approximately $121,000. Finally, Swedbank AB lifted its stake in Arlo Technologies by 9.1% in the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company's stock valued at $13,428,000 after acquiring an additional 100,000 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARLO has been the topic of several research reports. BWS Financial restated a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Thursday, April 24th. Craig Hallum upped their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a research note on Friday, February 28th.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 6,593 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $75,819.50. Following the transaction, the general counsel now owns 612,743 shares in the company, valued at $7,046,544.50. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $304,002.50. Following the transaction, the chief executive officer now owns 3,205,132 shares in the company, valued at $36,859,018. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,147,062 shares of company stock worth $12,620,137 in the last 90 days. Company insiders own 5.20% of the company's stock.

Arlo Technologies Stock Performance

ARLO opened at $13.72 on Thursday. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.64. The stock's fifty day simple moving average is $10.13 and its 200 day simple moving average is $11.18. The stock has a market cap of $1.42 billion, a PE ratio of -54.88 and a beta of 1.81.

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, beating analysts' consensus estimates of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The business had revenue of $119.07 million for the quarter, compared to analysts' expectations of $118.35 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

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.

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