Driehaus Capital Management LLC Has $12.71 Million Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Driehaus Capital Management LLC reduced its position in Arlo Technologies, Inc. (NYSE:ARLO) by 57.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,135,988 shares of the company’s stock after selling 1,524,564 shares during the quarter. Driehaus Capital Management LLC’s holdings in Arlo Technologies were worth $12,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares in the last quarter. KBC Group NV raised its stake in Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after acquiring an additional 3,185 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Arlo Technologies during the fourth quarter valued at $121,000. Hennessy Advisors Inc. boosted its stake in shares of Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares in the last quarter. Finally, Balboa Wealth Partners bought a new stake in shares of Arlo Technologies in the 4th quarter worth about $129,000. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Trading Up 16.8 %

ARLO opened at $12.43 on Friday. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.64. The firm has a 50-day moving average price of $10.03 and a two-hundred day moving average price of $11.12. The stock has a market capitalization of $1.29 billion, a PE ratio of -49.72 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $119.07 million during the quarter, compared to analysts’ expectations of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. Arlo Technologies’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. On average, research analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 21,367 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total value of $221,575.79. Following the transaction, the general counsel now directly owns 656,785 shares of the company’s stock, valued at approximately $6,810,860.45. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $304,002.50. Following the sale, the chief executive officer now owns 3,205,132 shares of the company’s stock, 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 a total of 1,164,731 shares of company stock worth $12,816,439 over the last 90 days. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

ARLO has been the topic of a number of recent analyst reports. BWS Financial restated 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 boosted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a research 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.