Thompson Siegel & Walmsley LLC Sells 32,313 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Thompson Siegel & Walmsley LLC trimmed its position in Arlo Technologies, Inc. (NYSE:ARLO) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 455,339 shares of the company’s stock after selling 32,313 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Arlo Technologies were worth $5,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Emerald Advisers LLC purchased a new position in Arlo Technologies during the 2nd quarter valued at approximately $11,528,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Arlo Technologies in the second quarter valued at $9,413,000. Lord Abbett & CO. LLC bought a new stake in Arlo Technologies in the first quarter worth $8,282,000. Swedbank AB purchased a new stake in Arlo Technologies during the first quarter valued at $6,958,000. Finally, Brandes Investment Partners LP lifted its position in Arlo Technologies by 8.4% during the fourth quarter. Brandes Investment Partners LP now owns 4,499,968 shares of the company’s stock valued at $42,840,000 after purchasing an additional 349,082 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARLO has been the topic of a number of research reports. Roth Mkm boosted their target price on shares of 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 report on Friday, August 9th.

Insider Buying and Selling

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares in the company, valued at $1,112,724.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ralph E. Faison bought 8,842 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $11.89 per share, with a total value of $105,131.38. Following the completion of the purchase, the director now directly 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 currently owned by corporate insiders.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $11.97 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. The stock’s fifty day moving average is $13.53 and its 200 day moving average is $12.78. The firm has a market capitalization of $1.17 billion, a PE ratio of -66.50 and a beta of 1.76. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

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.