Connor Clark & Lunn Investment Management Ltd. Buys Shares of 881,207 Arlo Technologies, Inc. $ARLO

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 881,207 shares of the company’s stock, valued at approximately $11,879,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.81% of Arlo Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ARLO. BlackRock Inc. acquired a new stake in Arlo Technologies in the second quarter valued at about $235,992,000. Vanguard Group Inc. raised its stake in Arlo Technologies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,691,336 shares of the company’s stock worth $149,572,000 after acquiring an additional 32,770 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Arlo Technologies by 27.6% in the fourth quarter. Brandes Investment Partners LP now owns 8,198,707 shares of the company’s stock worth $114,700,000 after acquiring an additional 1,772,063 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Arlo Technologies by 9.0% in the 2nd quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock valued at $79,747,000 after purchasing an additional 489,668 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Arlo Technologies by 5.3% during the 2nd quarter. State Street Corp now owns 4,272,925 shares of the company’s stock valued at $72,469,000 after purchasing an additional 215,867 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Arlo Technologies from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $19.00 target price on shares of Arlo Technologies in a research note on Friday, May 8th. 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. William Blair began coverage on Arlo Technologies in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Finally, Weiss Ratings downgraded Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 27,297 shares of Arlo Technologies stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $15.52, for a total transaction of $423,649.44. Following the transaction, the chief financial officer owned 442,110 shares in the company, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,775 shares of company stock worth $845,139 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Arlo Technologies Price Performance

Arlo Technologies stock opened at $13.36 on Wednesday. The business has a 50 day moving average of $13.58 and a 200-day moving average of $13.52. The company has a market capitalization of $1.45 billion, a P/E ratio of 49.49 and a beta of 1.56. Arlo Technologies, Inc. has a 1 year low of $11.05 and a 1 year high of $19.94.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. Arlo Technologies had a net margin of 5.20% and a return on equity of 17.29%. The business had revenue of $155.94 million for the quarter, compared to the consensus estimate of $148.94 million. During the same period last year, the company earned $0.17 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. Arlo Technologies has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at 0.170-0.230 EPS. Equities analysts anticipate that Arlo Technologies, Inc. will post 0.12 EPS for the current year.

Arlo Technologies 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.