Primecap Management Co. CA Sells 111,900 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Primecap Management Co. CA lowered its position in Arlo Technologies, Inc. (NYSE:ARLO) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,009,531 shares of the company’s stock after selling 111,900 shares during the quarter. Primecap Management Co. CA owned about 0.05% of Arlo Technologies worth $65,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ARLO. Victory Capital Management Inc. raised its position in 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. boosted its position in shares of Arlo Technologies by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock valued at $9,025,000 after buying an additional 58,620 shares during the period. Dynamic Technology Lab Private Ltd grew its stake in shares of Arlo Technologies by 103.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 29,524 shares of the company’s stock valued at $281,000 after buying an additional 15,011 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of Arlo Technologies by 13.3% in the fourth quarter. Trexquant Investment LP now owns 167,743 shares of the company’s stock worth $1,597,000 after buying an additional 19,745 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of Arlo Technologies by 33.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 69,519 shares of the company’s stock worth $662,000 after acquiring an additional 17,500 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 0.9 %

Shares of NYSE ARLO opened at $11.46 on Wednesday. Arlo Technologies, Inc. has a 52-week low of $7.77 and a 52-week high of $17.64. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -63.67 and a beta of 1.76. The stock has a 50 day moving average price of $13.39 and a 200 day moving average price of $12.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $127.45 million during the quarter, compared to analysts’ expectations of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS. Sell-side analysts expect that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ARLO. Roth Mkm upped their price objective 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 restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, August 9th.

Insiders Place Their Bets

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

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.