GAMMA Investing LLC Purchases 1,160 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

GAMMA Investing LLC raised its position in Arlo Technologies, Inc. (NYSE:ARLO) by 35.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,406 shares of the company’s stock after purchasing an additional 1,160 shares during the period. GAMMA Investing LLC’s holdings in Arlo Technologies were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new position in Arlo Technologies during the first quarter worth about $885,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Arlo Technologies by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after purchasing an additional 6,757 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of Arlo Technologies in the first quarter valued at approximately $797,000. Lord Abbett & CO. LLC acquired a new stake in Arlo Technologies during the first quarter worth approximately $8,282,000. Finally, Inspire Investing LLC bought a new position in Arlo Technologies during the 1st quarter worth $873,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Stock Up 1.5 %

NYSE ARLO opened at $11.86 on Thursday. The business has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $12.71. The stock has a market capitalization of $1.16 billion, a PE ratio of -65.89 and a beta of 1.76. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. Arlo Technologies’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. Equities analysts expect that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the transaction, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARLO. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, September 27th. Roth Mkm upped their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

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.