Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,482 shares of the company’s stock after selling 13,126 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.29% of Arlo Technologies worth $2,575,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ARLO. FMR LLC boosted its holdings in shares of Arlo Technologies by 83.7% in the first quarter. FMR LLC now owns 4,979 shares of the company’s stock worth $30,000 after acquiring an additional 2,269 shares during the period. Advisor Group Holdings Inc. boosted its stake in Arlo Technologies by 733.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 9,297 shares of the company’s stock valued at $32,000 after buying an additional 8,182 shares during the period. First Capital Advisors Group LLC. bought a new stake in Arlo Technologies during the second quarter valued at $34,000. PNC Financial Services Group Inc. boosted its stake in Arlo Technologies by 82.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,704 shares of the company’s stock valued at $34,000 after buying an additional 4,395 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Arlo Technologies by 136.2% during the second quarter. Osaic Holdings Inc. now owns 3,375 shares of the company’s stock valued at $37,000 after buying an additional 1,946 shares during the period. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $10.58 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -44.08 and a beta of 1.86. Arlo Technologies, Inc. has a 52-week low of $6.18 and a 52-week high of $13.34. The stock has a fifty day moving average of $10.94 and a 200 day moving average of $9.74.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The company had revenue of $135.09 million during the quarter, compared to analyst estimates of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. Equities analysts forecast that Arlo Technologies, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 132,214 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the sale, the chief executive officer now owns 2,314,950 shares in the company, valued at $25,348,702.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $9.04, for a total transaction of $289,280.00. Following the sale, the director now owns 127,012 shares in the company, valued at $1,148,188.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction dated 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 transaction, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 362,386 shares of company stock valued at $3,947,459. Company insiders own 2.90% of the company’s stock.

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.