Raymond James & Associates Boosts Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James & Associates lifted its position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 15.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 415,506 shares of the company's stock after purchasing an additional 55,580 shares during the quarter. Raymond James & Associates owned about 0.43% of Arlo Technologies worth $5,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ARLO. Chilton Capital Management LLC purchased a new stake in shares of Arlo Technologies in the second quarter valued at about $33,000. GAMMA Investing LLC boosted its stake in Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company's stock worth $42,000 after buying an additional 840 shares during the period. CWM LLC boosted its stake in Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company's stock worth $49,000 after buying an additional 1,778 shares during the period. Meeder Asset Management Inc. purchased a new position in Arlo Technologies during the second quarter worth about $62,000. Finally, Hennessy Advisors Inc. purchased a new position in Arlo Technologies during the second quarter worth about $138,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Up 1.2 %

Shares of ARLO traded up $0.12 during mid-day trading on Friday, hitting $10.28. 914,022 shares of the company's stock were exchanged, compared to its average volume of 936,682. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -46.73 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 quick ratio of 1.23 and a current ratio of 1.48. The stock's 50-day moving average is $11.43 and its 200-day moving average is $12.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $127.45 million for the quarter, compared to analysts' expectations of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The firm's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. On average, sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Arlo Technologies

In other news, Director Ralph E. Faison bought 8,842 shares of Arlo Technologies stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now directly owns 385,599 shares in the company, valued at $4,584,772.11. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ralph E. Faison acquired 8,842 shares of the business's stock in a transaction on Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the firm's stock in a transaction that occurred 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 directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BWS Financial reaffirmed a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm increased their price target 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.