Teton Advisors Inc. Lowers Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Teton Advisors Inc. lessened its position in Arlo Technologies, Inc. (NYSE:ARLO) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,000 shares of the company’s stock after selling 10,000 shares during the quarter. Teton Advisors Inc.’s holdings in Arlo Technologies were worth $1,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Arlo Technologies by 229.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock valued at $9,161,000 after acquiring an additional 619,049 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Arlo Technologies by 5.0% in the third quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock valued at $97,900,000 after purchasing an additional 451,236 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Arlo Technologies by 29.4% in the third quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock valued at $42,754,000 after purchasing an additional 943,089 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Arlo Technologies by 119.1% in the third quarter. GSA Capital Partners LLP now owns 175,289 shares of the company’s stock valued at $1,805,000 after purchasing an additional 95,275 shares during the last quarter. Finally, Cannell Capital LLC increased its holdings in shares of Arlo Technologies by 7.5% in the third quarter. Cannell Capital LLC now owns 2,322,123 shares of the company’s stock valued at $23,918,000 after purchasing an additional 162,470 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total transaction of $665,444.64. Following the completion of the sale, the general counsel now owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total value of $1,447,743.30. Following the completion of the sale, the chief executive officer now directly owns 2,314,950 shares of the company’s stock, valued at $25,348,702.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the completion of the sale, the general counsel now directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The disclosure for this sale can be found here. Insiders sold a total of 330,386 shares of company stock valued at $3,658,179 over the last quarter. 2.90% of the stock is owned by insiders.

Arlo Technologies Price Performance

ARLO stock traded up $0.74 during midday trading on Thursday, hitting $12.87. 836,130 shares of the company’s stock were exchanged, compared to its average volume of 984,024. The business has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $9.88. Arlo Technologies, Inc. has a 1-year low of $6.24 and a 1-year high of $13.34.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. As a group, research analysts anticipate that Arlo Technologies, Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of Arlo Technologies in a report on Wednesday, April 24th.

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.