Russell Investments Group Ltd. Purchases 60,955 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Russell Investments Group Ltd. grew its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 35.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,520 shares of the company’s stock after purchasing an additional 60,955 shares during the quarter. Russell Investments Group Ltd.’s holdings in Arlo Technologies were worth $1,559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of Arlo Technologies in the 1st quarter worth about $74,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Arlo Technologies in the 1st quarter worth about $80,000. Malaga Cove Capital LLC grew its position in shares of Arlo Technologies by 16.7% in the 1st quarter. Malaga Cove Capital LLC now owns 15,925 shares of the company’s stock worth $100,000 after buying an additional 2,275 shares during the period. Pinz Capital Management LP purchased a new stake in shares of Arlo Technologies in the 1st quarter worth about $107,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Arlo Technologies in the 1st quarter worth about $107,000. Institutional investors and hedge funds own 68.07% of the company’s stock.

Shares of NYSE ARLO opened at $6.63 on Friday. The firm’s 50-day moving average price is $6.14 and its 200-day moving average price is $6.54. The company has a market cap of $550.03 million, a PE ratio of -8.34 and a beta of 1.75. Arlo Technologies, Inc. has a 52-week low of $4.33 and a 52-week high of $10.49.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.11. The firm had revenue of $98.57 million for the quarter, compared to the consensus estimate of $86.88 million. Arlo Technologies had a negative net margin of 16.42% and a negative return on equity of 50.66%. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) EPS. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post -0.92 EPS for the current fiscal year.

Several brokerages recently commented on ARLO. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Arlo Technologies from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 5th. Zacks Investment Research downgraded shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th.

Arlo Technologies Company Profile

Arlo Technologies, Inc engages in the provision and development of cloud infrastructure and mobile app for smart connected devices. It offers wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors, smart security lights, and audio doorbell. The company was founded in January 2018 and is headquartered in San Jose, CA.

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Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

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