SG Americas Securities LLC Invests $563,000 in Arlo Technologies, Inc. (NYSE:ARLO)

SG Americas Securities LLC bought a new position in Arlo Technologies, Inc. (NYSE:ARLO) in the 3rd quarter, Holdings Channel.com reports. The fund bought 87,797 shares of the company’s stock, valued at approximately $563,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System bought a new stake in shares of Arlo Technologies in the 3rd quarter worth about $207,000. Amalgamated Bank increased its position in shares of Arlo Technologies by 4.7% in the 3rd quarter. Amalgamated Bank now owns 43,543 shares of the company’s stock worth $279,000 after purchasing an additional 1,962 shares during the last quarter. Orion Capital Management LLC increased its position in shares of Arlo Technologies by 37.5% in the 3rd quarter. Orion Capital Management LLC now owns 47,660 shares of the company’s stock worth $306,000 after purchasing an additional 13,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Arlo Technologies by 51.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 522,168 shares of the company’s stock valued at $3,347,000 after buying an additional 177,916 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Arlo Technologies by 9.0% during the third quarter. Louisiana State Employees Retirement System now owns 40,000 shares of the company’s stock worth $256,000 after acquiring an additional 3,300 shares during the period. 66.68% of the stock is owned by institutional investors.

In related news, CFO Gordon Mattingly sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 21st. The stock was sold at an average price of $10.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Miller Joycelyn Carter sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $7.00, for a total value of $210,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock worth $395,000. 1.60% of the stock is owned by insiders.

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Arlo Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 10th. BWS Financial increased their price target on Arlo Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. Finally, Zacks Investment Research cut Arlo Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday.

Shares of Arlo Technologies stock opened at $9.66 on Friday. The business’s 50 day simple moving average is $8.94 and its 200-day simple moving average is $7.24. The stock has a market capitalization of $814.33 million, a price-to-earnings ratio of -12.38 and a beta of 1.71. Arlo Technologies, Inc. has a twelve month low of $5.48 and a twelve month high of $10.88.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Tuesday, November 9th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Arlo Technologies had a negative return on equity of 51.86% and a negative net margin of 15.83%. The business had revenue of $111.15 million for the quarter, compared to analysts’ expectations of $105.83 million. During the same period in the prior year, the firm earned ($0.22) EPS. As a group, research analysts forecast that Arlo Technologies, Inc. will post -0.73 EPS for the current year.

Arlo Technologies Company Profile

Arlo Technologies, Inc engages in the provision and development of cloud infrastructure and mobile app for smart connected devices. It offers wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors, smart security lights, and audio doorbell. The company was founded in January 2018 and is headquartered in Carlsbad, CA.

Further Reading: Dead Cat Bounce

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Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

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