Truist Financial Corp Sells 4,442 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Truist Financial Corp lowered its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 18.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,219 shares of the company’s stock after selling 4,442 shares during the quarter. Truist Financial Corp’s holdings in Arlo Technologies were worth $251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jupiter Asset Management Ltd. acquired a new position in shares of Arlo Technologies during the 1st quarter worth approximately $885,000. Allspring Global Investments Holdings LLC raised its position in Arlo Technologies by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after acquiring an additional 6,757 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Arlo Technologies during the first quarter worth $797,000. Lord Abbett & CO. LLC acquired a new stake in Arlo Technologies in the first quarter valued at $8,282,000. Finally, Inspire Investing LLC bought a new position in shares of Arlo Technologies in the 1st quarter valued at about $873,000. Institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARLO shares. Roth Mkm upped their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, September 27th.

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arlo Technologies news, Director Ralph E. Faison acquired 8,842 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Arlo Technologies Price Performance

NYSE:ARLO opened at $11.58 on Friday. The firm’s fifty day moving average price is $11.68 and its two-hundred day moving average price is $12.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The company has a market cap of $1.13 billion, a P/E ratio of -64.33 and a beta of 1.76. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $17.64.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. Arlo Technologies’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. Equities analysts expect that Arlo Technologies, Inc. will post -0.4 earnings per share for the current 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.