Primecap Management Co. CA Trims Position in Arlo Technologies, Inc. (NYSE:ARLO)

Primecap Management Co. CA trimmed its position in Arlo Technologies, Inc. (NYSE:ARLO) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,009,531 shares of the company’s stock after selling 111,900 shares during the period. Primecap Management Co. CA owned about 5.13% of Arlo Technologies worth $65,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Arlo Technologies by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock worth $184,000 after purchasing an additional 3,671 shares during the period. Charles Schwab Investment Management Inc. raised its position in Arlo Technologies by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after acquiring an additional 58,620 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Arlo Technologies by 103.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 29,524 shares of the company’s stock worth $281,000 after acquiring an additional 15,011 shares during the last quarter. Trexquant Investment LP grew its position in shares of Arlo Technologies by 13.3% during the 4th quarter. Trexquant Investment LP now owns 167,743 shares of the company’s stock valued at $1,597,000 after acquiring an additional 19,745 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake in shares of Arlo Technologies by 33.6% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 69,519 shares of the company’s stock worth $662,000 after purchasing an additional 17,500 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Roth Mkm lifted their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, August 9th.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the sale, the director now owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ralph E. Faison bought 8,842 shares of Arlo Technologies stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction 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. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Trading Down 0.9 %

Arlo Technologies stock opened at $11.46 on Wednesday. Arlo Technologies, Inc. has a 1 year low of $7.77 and a 1 year high of $17.64. The firm’s 50 day moving average price is $13.39 and its 200-day moving average price is $12.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The stock has a market cap of $1.12 billion, a P/E ratio of -63.67 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. Arlo Technologies’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, equities analysts predict that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

About Arlo Technologies

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.