Arlo Technologies, Inc. (NYSE:ARLO) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arlo Technologies, Inc. (NYSE:ARLO) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,725 shares of the company’s stock after acquiring an additional 4,398 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arlo Technologies were worth $216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Strs Ohio boosted its position in shares of Arlo Technologies by 203.4% during the third quarter. Strs Ohio now owns 17,900 shares of the company’s stock worth $184,000 after buying an additional 12,000 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Arlo Technologies by 38.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,376 shares of the company’s stock worth $313,000 after acquiring an additional 8,429 shares during the period. Victory Capital Management Inc. grew its position in Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock valued at $161,000 after buying an additional 1,378 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Arlo Technologies by 328.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,534,778 shares of the company’s stock valued at $15,808,000 after buying an additional 1,176,530 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Arlo Technologies during the 3rd quarter worth about $535,000. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Stock Up 3.7 %

Shares of ARLO opened at $13.44 on Tuesday. The stock’s 50-day moving average price is $11.68 and its 200 day moving average price is $9.97. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -55.98 and a beta of 1.87. Arlo Technologies, Inc. has a 12-month low of $6.70 and a 12-month high of $13.73.

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

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and set a $17.00 price objective on shares of Arlo Technologies in a research note on Wednesday, April 24th.

Insider Activity

In related news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the completion of the sale, the general counsel now owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total value of $665,444.64. Following the completion of the sale, the general counsel now directly owns 604,905 shares in the company, valued at $7,065,290.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the business’s 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 sale, the chief executive officer now directly owns 2,314,950 shares of the company’s stock, valued at $25,348,702.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,386 shares of company stock worth $3,658,179. Insiders own 2.90% of the company’s stock.

Arlo Technologies Profile

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.