Arlo Technologies, Inc. $ARLO Position Increased by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 313.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 299,435 shares of the company’s stock after purchasing an additional 227,074 shares during the quarter. Sei Investments Co.’s holdings in Arlo Technologies were worth $4,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its position in Arlo Technologies by 12.2% during the 1st quarter. Cetera Investment Advisers now owns 15,253 shares of the company’s stock valued at $217,000 after purchasing an additional 1,657 shares during the period. Dimensional Fund Advisors LP bought a new position in Arlo Technologies during the 1st quarter worth $846,000. Swiss National Bank increased its position in Arlo Technologies by 1.9% in the first quarter. Swiss National Bank now owns 209,700 shares of the company’s stock worth $2,984,000 after buying an additional 4,000 shares during the period. Allspring Global Investments Holdings LLC increased its position in Arlo Technologies by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 60,719 shares of the company’s stock worth $857,000 after buying an additional 6,277 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in Arlo Technologies by 6.0% in the first quarter. Illinois Municipal Retirement Fund now owns 60,547 shares of the company’s stock valued at $862,000 after buying an additional 3,432 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARLO shares. Oppenheimer began coverage on shares of Arlo Technologies in a report on Monday, May 18th. They set an “outperform” rating and a $20.00 price target for the company. Piper Sandler assumed coverage on shares of Arlo Technologies in a report on Sunday, July 26th. They issued an “overweight” rating and a $17.00 price objective on the stock. Weiss Ratings downgraded shares of Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Raymond James Financial reissued an “outperform” rating and set a $19.00 target price on shares of Arlo Technologies in a research note on Friday, May 8th. Finally, William Blair started coverage on shares of Arlo Technologies in a research report on Tuesday, July 7th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Arlo Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Arlo Technologies Price Performance

Shares of Arlo Technologies stock opened at $15.93 on Thursday. Arlo Technologies, Inc. has a 1-year low of $11.05 and a 1-year high of $19.94. The business’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $13.44. The company has a market capitalization of $1.73 billion, a P/E ratio of 59.00 and a beta of 1.56.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. The company had revenue of $150.38 million during the quarter, compared to analysts’ expectations of $139.72 million. Arlo Technologies had a return on equity of 18.66% and a net margin of 5.47%.The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, research analysts expect that Arlo Technologies, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 27,297 shares of Arlo Technologies stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $15.52, for a total transaction of $423,649.44. Following the sale, the chief financial officer directly owned 442,110 shares in the company, valued at $6,861,547.20. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 122,775 shares of company stock worth $1,865,639 in the last quarter. 2.90% of the stock is owned by insiders.

Arlo Technologies Company Profile

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.