New York State Common Retirement Fund Has $1.90 Million Holdings in Arlo Technologies, Inc. $ARLO

New York State Common Retirement Fund decreased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 29.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,172 shares of the company’s stock after selling 47,467 shares during the period. New York State Common Retirement Fund’s holdings in Arlo Technologies were worth $1,901,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ARLO. Wasatch Advisors LP lifted its stake in Arlo Technologies by 30.1% in the second quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock valued at $79,354,000 after acquiring an additional 1,082,443 shares during the last quarter. Divisadero Street Capital Management LP raised its holdings in shares of Arlo Technologies by 778.6% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock valued at $19,520,000 after purchasing an additional 1,019,945 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Arlo Technologies by 115.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock valued at $15,325,000 after purchasing an additional 830,770 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Arlo Technologies by 110.3% in the 2nd quarter. Marshall Wace LLP now owns 1,510,603 shares of the company’s stock valued at $25,620,000 after purchasing an additional 792,294 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Arlo Technologies by 24.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,374,399 shares of the company’s stock worth $23,310,000 after purchasing an additional 266,847 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARLO shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Monday, December 29th. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a research report on Tuesday, November 11th. Finally, Zacks Research downgraded Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Arlo Technologies Price Performance

NYSE ARLO opened at $12.41 on Monday. The stock’s 50 day simple moving average is $13.69 and its 200 day simple moving average is $15.76. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $19.94. The firm has a market cap of $1.32 billion, a PE ratio of 413.80 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company had revenue of $139.53 million for the quarter, compared to analyst estimates of $138.69 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

More Arlo Technologies News

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 149,521 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $14.37, for a total value of $2,148,616.77. Following the completion of the transaction, the general counsel directly owned 519,855 shares of the company’s stock, valued at approximately $7,470,316.35. The trade was a 22.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.69, for a total transaction of $753,538.67. Following the transaction, the chief financial officer owned 460,970 shares in the company, valued at $6,310,679.30. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 833,807 shares of company stock valued at $11,351,161 over the last ninety days. 3.80% of the stock is owned by insiders.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.