SG Americas Securities LLC Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

SG Americas Securities LLC purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 87,797 shares of the company’s stock, valued at approximately $563,000. SG Americas Securities LLC owned approximately 0.11% of Arlo Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ARLO. Marshall Wace LLP acquired a new stake in shares of Arlo Technologies during the first quarter worth about $74,000. Metropolitan Life Insurance Co NY acquired a new stake in Arlo Technologies during the first quarter worth approximately $80,000. FMR LLC raised its holdings in Arlo Technologies by 50.0% during the first quarter. FMR LLC now owns 11,138,225 shares of the company’s stock worth $46,001,000 after purchasing an additional 3,713,841 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Arlo Technologies during the first quarter worth approximately $118,000. Finally, Russell Investments Group Ltd. grew its position in shares of Arlo Technologies by 35.9% during the second quarter. Russell Investments Group Ltd. now owns 230,520 shares of the company’s stock worth $1,559,000 after acquiring an additional 60,955 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Gordon Mattingly sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Miller Joycelyn Carter sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $7.00, for a total transaction of $210,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $395,000. Corporate insiders own 1.60% of the company’s stock.

A number of equities analysts recently weighed in on ARLO shares. Zacks Investment Research lowered shares of Arlo Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Arlo Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. Finally, BWS Financial boosted their target price on shares of Arlo Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th.

Shares of NYSE ARLO opened at $9.66 on Friday. Arlo Technologies, Inc. has a one year low of $5.48 and a one year high of $10.88. The company’s fifty day moving average is $8.94 and its two-hundred day moving average is $7.24. The firm has a market capitalization of $814.33 million, a P/E ratio of -12.38 and a beta of 1.71.

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

Arlo Technologies 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.

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

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