Stoneridge Investment Partners LLC Acquires New Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Stoneridge Investment Partners LLC bought a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the third quarter, Holdings Channel.com reports. The institutional investor bought 20,761 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Arlo Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company’s stock worth $90,977,000 after buying an additional 51,623 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Arlo Technologies by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock valued at $831,000 after acquiring an additional 6,757 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Arlo Technologies by 9.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 296,858 shares of the company’s stock valued at $3,755,000 after acquiring an additional 26,376 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Arlo Technologies by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,106 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Arlo Technologies during the first quarter worth about $190,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARLO. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm lifted their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $10.56 on Tuesday. The stock’s 50-day simple moving average is $11.39 and its 200-day simple moving average is $12.67. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. Equities research analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Insider Activity at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ralph E. Faison acquired 8,842 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

About Arlo Technologies

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.