Geode Capital Management LLC lifted its holdings in shares of Arlo Technologies Inc (NYSE:ARLO) by 952.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 812,241 shares of the company’s stock after purchasing an additional 735,042 shares during the period. Geode Capital Management LLC owned 1.12% of Arlo Technologies worth $8,106,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ARLO. BlackRock Inc. bought a new stake in shares of Arlo Technologies during the third quarter worth $14,298,000. Bank of New York Mellon Corp boosted its holdings in Arlo Technologies by 3,141.7% in the fourth quarter. Bank of New York Mellon Corp now owns 947,946 shares of the company’s stock valued at $9,460,000 after acquiring an additional 918,704 shares during the last quarter. Macquarie Group Ltd. bought a new position in Arlo Technologies in the third quarter valued at about $12,500,000. Vanguard Group Inc bought a new position in Arlo Technologies in the third quarter valued at about $11,714,000. Finally, Vanguard Group Inc. bought a new position in Arlo Technologies in the third quarter valued at about $11,714,000. Institutional investors own 28.43% of the company’s stock.
In related news, CEO Matthew Blake Mcrae bought 45,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $4.46 per share, with a total value of $200,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ralph E. Faison bought 50,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was bought at an average cost of $4.24 per share, for a total transaction of $212,000.00. The disclosure for this purchase can be found here.
Arlo Technologies stock opened at $3.91 on Wednesday. Arlo Technologies Inc has a 12-month low of $3.37 and a 12-month high of $23.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.39 and a current ratio of 1.83.
Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.04. The business had revenue of $129.30 million for the quarter, compared to analysts’ expectations of $128.58 million. Arlo Technologies had a negative return on equity of 31.78% and a negative net margin of 14.49%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities research analysts predict that Arlo Technologies Inc will post -1.59 earnings per share for the current year.
ARLO has been the topic of several recent research reports. Zacks Investment Research cut Arlo Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Bank of America cut Arlo Technologies from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 6th. Imperial Capital reiterated an “outperform” rating and issued a $29.00 price target (down previously from $39.00) on shares of Arlo Technologies in a report on Friday, January 4th. Finally, Cowen cut Arlo Technologies from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $25.00 to $7.50 in a report on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Arlo Technologies has an average rating of “Hold” and an average price target of $18.60.
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Arlo Technologies Company Profile
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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