Arlo Technologies Inc (ARLO) Stake Lifted by Water Island Capital LLC

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Water Island Capital LLC lifted its holdings in Arlo Technologies Inc (NYSE:ARLO) by 246.2% during the 1st quarter, HoldingsChannel reports. The fund owned 81,101 shares of the company’s stock after acquiring an additional 57,678 shares during the quarter. Water Island Capital LLC’s holdings in Arlo Technologies were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in Arlo Technologies by 29.7% in the 4th quarter. FMR LLC now owns 7,424,384 shares of the company’s stock valued at $74,095,000 after acquiring an additional 1,698,180 shares during the period. Macquarie Group Ltd. lifted its holdings in Arlo Technologies by 27.2% during the fourth quarter. Macquarie Group Ltd. now owns 1,095,661 shares of the company’s stock valued at $10,935,000 after purchasing an additional 234,185 shares in the last quarter. BlackRock Inc. purchased a new position in Arlo Technologies during the third quarter valued at approximately $14,298,000. Bank of New York Mellon Corp lifted its holdings in Arlo Technologies by 3,141.7% during 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 purchasing an additional 918,704 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Arlo Technologies by 952.1% during the fourth quarter. Geode Capital Management LLC now owns 812,241 shares of the company’s stock valued at $8,106,000 after purchasing an additional 735,042 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

ARLO stock traded up $0.29 during mid-day trading on Wednesday, reaching $4.32. 80,512 shares of the stock traded hands, compared to its average volume of 808,671. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 0.11. Arlo Technologies Inc has a one year low of $3.37 and a one year high of $23.77. The stock has a market capitalization of $300.44 million and a price-to-earnings ratio of -3.89.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.55). Arlo Technologies had a negative net margin of 24.30% and a negative return on equity of 42.61%. The business had revenue of $57.88 million for the quarter, compared to analysts’ expectations of $50.40 million. The company’s revenue for the quarter was down 42.5% compared to the same quarter last year. As a group, equities research analysts expect that Arlo Technologies Inc will post -1.63 EPS for the current year.

In other news, CEO Matthew Blake Mcrae acquired 45,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $4.46 per share, for a total transaction of $200,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ralph E. Faison acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were purchased at an average price of $4.24 per share, for a total transaction of $212,000.00. The disclosure for this purchase can be found here.

Several brokerages recently weighed in on ARLO. Zacks Investment Research cut shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Cowen cut shares of Arlo Technologies from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $25.00 to $7.50 in a research report on Wednesday, February 6th. Bank of America cut shares of Arlo Technologies from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 6th. Finally, Imperial Capital reduced their price target on shares of Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating on the stock in a research report on Wednesday, February 6th. One 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. The company presently has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

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