Westwood Holdings Group Inc. Raises Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Westwood Holdings Group Inc. boosted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,513 shares of the company’s stock after acquiring an additional 24,623 shares during the period. Westwood Holdings Group Inc.’s holdings in Arlo Technologies were worth $3,055,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ARLO. SG Americas Securities LLC purchased a new position in Arlo Technologies in the first quarter worth about $190,000. ProShare Advisors LLC raised its holdings in Arlo Technologies by 7.3% in the first quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock worth $230,000 after buying an additional 1,241 shares during the last quarter. Strs Ohio raised its holdings in Arlo Technologies by 7.3% in the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Arlo Technologies by 23.5% in the fourth quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock worth $184,000 after buying an additional 3,671 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in Arlo Technologies in the first quarter worth about $243,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Price Performance

ARLO traded down $0.80 during trading on Friday, reaching $13.80. 1,023,104 shares of the company’s stock were exchanged, compared to its average volume of 1,008,569. The stock has a market capitalization of $1.35 billion, a P/E ratio of -76.66 and a beta of 1.83. Arlo Technologies, Inc. has a 1 year low of $7.77 and a 1 year high of $17.64. The company’s fifty day simple moving average is $14.34 and its 200-day simple moving average is $12.11.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $124.20 million during the quarter, compared to analyst estimates of $124.06 million. Arlo Technologies had a negative net margin of 3.46% and a negative return on equity of 16.71%. Equities analysts forecast that Arlo Technologies, Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Arlo Technologies

In other news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the transaction, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Amy M. Rothstein sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $13.37, for a total transaction of $334,250.00. Following the completion of the transaction, the director now directly owns 76,271 shares of the company’s stock, valued at $1,019,743.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ARLO has been the subject of several recent research reports. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Tuesday, July 9th. Roth Mkm boosted their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Craig Hallum upped their price target on shares of Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 10th.

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.