Thompson Siegel & Walmsley LLC Trims Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Thompson Siegel & Walmsley LLC lessened its position in Arlo Technologies, Inc. (NYSE:ARLO) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 455,339 shares of the company’s stock after selling 32,313 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.47% of Arlo Technologies worth $5,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Arlo Technologies during the 2nd quarter valued at about $62,000. Texas Permanent School Fund Corp increased its stake in shares of Arlo Technologies by 12.1% during the second quarter. Texas Permanent School Fund Corp now owns 92,834 shares of the company’s stock valued at $1,211,000 after purchasing an additional 10,016 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter worth approximately $11,528,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Arlo Technologies in the 2nd quarter worth approximately $9,413,000. Finally, Arizona State Retirement System grew its stake in shares of Arlo Technologies by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock worth $334,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $11.97 on Monday. The firm has a market cap of $1.17 billion, a P/E ratio of -66.50 and a beta of 1.76. Arlo Technologies, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $13.53 and a 200 day moving average of $12.78.

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. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The firm had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

In related news, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the transaction, the director now owns 75,032 shares in the company, valued at $1,112,724.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Ralph E. Faison purchased 8,842 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the purchase, the director now directly owns 385,599 shares in the company, valued at approximately $4,584,772.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ARLO shares. Roth Mkm boosted their target price on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, August 9th.

Arlo Technologies 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.