Arizona State Retirement System Sells 1,171 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Arizona State Retirement System reduced its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,979 shares of the company’s stock after selling 1,171 shares during the quarter. Arizona State Retirement System’s holdings in Arlo Technologies were worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quilter Plc bought a new position in Arlo Technologies in the first quarter valued at about $1,946,280,000. First Capital Advisors Group LLC. bought a new position in Arlo Technologies in the second quarter valued at about $34,000. Osaic Holdings Inc. raised its position in Arlo Technologies by 136.2% in the second quarter. Osaic Holdings Inc. now owns 3,375 shares of the company’s stock valued at $37,000 after purchasing an additional 1,946 shares during the last quarter. Acadian Asset Management LLC bought a new position in Arlo Technologies in the third quarter valued at about $38,000. Finally, FMR LLC raised its position in Arlo Technologies by 83.7% in the first quarter. FMR LLC now owns 4,979 shares of the company’s stock valued at $30,000 after purchasing an additional 2,269 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the completion of the sale, the general counsel now owns 661,878 shares of the company’s stock, valued at $7,260,801.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the completion of the sale, the general counsel now owns 661,878 shares of the company’s stock, valued at $7,260,801.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the sale, the director now directly owns 127,012 shares of the company’s stock, valued at approximately $1,148,188.48. 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.

Arlo Technologies Trading Down 1.0 %

Arlo Technologies stock opened at $10.46 on Monday. The company has a market capitalization of $1.01 billion, a PE ratio of -43.58 and a beta of 1.86. Arlo Technologies, Inc. has a 12 month low of $6.18 and a 12 month high of $13.34. The stock has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $9.75.

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