Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) General Counsel Brian Busse sold 37,085 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $9.78, for a total transaction of $362,691.30. Following the completion of the transaction, the general counsel now owns 696,816 shares of the company’s stock, valued at approximately $6,814,860.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Arlo Technologies Stock Performance
Shares of ARLO opened at $9.25 on Friday. Arlo Technologies, Inc. has a fifty-two week low of $2.93 and a fifty-two week high of $9.81. The company has a market capitalization of $849.54 million, a price-to-earnings ratio of -13.21 and a beta of 1.64. The firm has a 50-day simple moving average of $6.59 and a 200-day simple moving average of $4.84.
Arlo Technologies (NYSE:ARLO – Get Rating) last announced its earnings results on Tuesday, March 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. Arlo Technologies had a negative net margin of 13.09% and a negative return on equity of 63.61%. The business had revenue of $118.53 million during the quarter, compared to the consensus estimate of $106.62 million. Equities research analysts forecast that Arlo Technologies, Inc. will post -0.51 EPS for the current year.
Wall Street Analysts Forecast Growth
Institutional Investors Weigh In On Arlo Technologies
A number of hedge funds have recently added to or reduced their stakes in ARLO. JPMorgan Chase & Co. lifted its position in Arlo Technologies by 400.9% in the first quarter. JPMorgan Chase & Co. now owns 161,036 shares of the company’s stock valued at $1,426,000 after purchasing an additional 128,888 shares during the period. Citigroup Inc. lifted its position in Arlo Technologies by 12.1% in the first quarter. Citigroup Inc. now owns 71,401 shares of the company’s stock valued at $632,000 after purchasing an additional 7,695 shares during the period. MetLife Investment Management LLC lifted its position in Arlo Technologies by 120.3% in the first quarter. MetLife Investment Management LLC now owns 45,203 shares of the company’s stock valued at $400,000 after purchasing an additional 24,682 shares during the period. Rhumbline Advisers lifted its position in Arlo Technologies by 7.3% in the first quarter. Rhumbline Advisers now owns 214,207 shares of the company’s stock valued at $1,898,000 after purchasing an additional 14,579 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Arlo Technologies by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 72,674 shares of the company’s stock valued at $644,000 after purchasing an additional 8,961 shares during the period. Institutional investors and hedge funds own 72.87% of the company’s stock.
About Arlo Technologies
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. It operates through the following geographical segments: United States, Spain, Ireland, and Other Countries.
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