New York State Common Retirement Fund Sells 47,467 Shares of Arlo Technologies, Inc. $ARLO

New York State Common Retirement Fund decreased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 29.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,172 shares of the company’s stock after selling 47,467 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Arlo Technologies worth $1,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARLO. First Horizon Advisors Inc. raised its holdings in shares of Arlo Technologies by 161.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock valued at $55,000 after purchasing an additional 1,988 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Arlo Technologies by 1,682.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $95,000 after buying an additional 5,301 shares in the last quarter. Strs Ohio purchased a new position in Arlo Technologies in the 1st quarter valued at $66,000. Farther Finance Advisors LLC increased its position in shares of Arlo Technologies by 75,255.6% during the third quarter. Farther Finance Advisors LLC now owns 6,782 shares of the company’s stock valued at $115,000 after acquiring an additional 6,773 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Arlo Technologies during the second quarter worth $132,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Up 3.2%

Shares of NYSE:ARLO opened at $12.41 on Monday. The company has a market cap of $1.32 billion, a P/E ratio of 413.80 and a beta of 1.66. The business has a fifty day simple moving average of $13.69 and a 200-day simple moving average of $15.76. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $19.94.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $138.69 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ARLO. Zacks Research lowered Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Arlo Technologies in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 95,326 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $12.29, for a total transaction of $1,171,556.54. Following the sale, the chief executive officer directly owned 1,011,288 shares of the company’s stock, valued at approximately $12,428,729.52. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 31,407 shares of Arlo Technologies stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total value of $385,992.03. Following the completion of the transaction, the general counsel owned 552,850 shares of the company’s stock, valued at approximately $6,794,526.50. The trade was a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 833,807 shares of company stock valued at $11,351,161 over the last three months. 3.80% of the stock is owned by insiders.

More Arlo Technologies News

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

Arlo Technologies Company Profile

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.