American International Group Inc. boosted its holdings in Arlo Technologies Inc (NYSE:ARLO) by 6.2% during the second quarter, according to the company in its most recent disclosure with the SEC.
The firm owned 54,881 shares of the company’s stock after purchasing an additional 3,181 shares during the quarter. American International Group Inc. owned about 0.07% of Arlo Technologies worth $142,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Arlo Technologies in the first quarter worth about $636,000. Two Sigma Advisers LP grew its holdings in shares of Arlo Technologies by 96.7% during the first quarter. Two Sigma Advisers LP now owns 206,753 shares of the company’s stock valued at $502,000 after buying an additional 101,645 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Arlo Technologies during the second quarter valued at approximately $31,000. SG Americas Securities LLC grew its holdings in shares of Arlo Technologies by 31.1% during the second quarter. SG Americas Securities LLC now owns 54,285 shares of the company’s stock valued at $140,000 after buying an additional 12,891 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Arlo Technologies by 193.8% during the first quarter. State of Tennessee Treasury Department now owns 73,921 shares of the company’s stock valued at $179,000 after buying an additional 48,757 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.
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A number of equities research analysts have recently commented on the stock. Raymond James increased their price target on shares of Arlo Technologies from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. BWS Financial raised their target price on shares of Arlo Technologies from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Zacks Investment Research raised shares of Arlo Technologies from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research note on Tuesday, August 11th. Finally, Deutsche Bank lifted their price objective on shares of Arlo Technologies from $4.00 to $7.00 in a research note on Thursday, August 6th.
ARLO stock opened at $5.03 on Friday. Arlo Technologies Inc has a 12 month low of $1.20 and a 12 month high of $7.30. The company has a 50-day moving average price of $5.77 and a 200 day moving average price of $3.36. The stock has a market cap of $393.03 million, a PE ratio of -4.84 and a beta of 1.75.
Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. Arlo Technologies had a negative net margin of 22.06% and a negative return on equity of 44.60%. The firm had revenue of $66.63 million during the quarter, compared to analysts’ expectations of $55.83 million. On average, equities research analysts predict that Arlo Technologies Inc will post -1.51 earnings per share for the current fiscal year.
Arlo Technologies Profile
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.