Federated Hermes Inc. Sells 36,564 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Federated Hermes Inc. reduced its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,529 shares of the company’s stock after selling 36,564 shares during the period. Federated Hermes Inc. owned 0.96% of Arlo Technologies worth $8,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Global Investments bought a new stake in shares of Arlo Technologies during the 3rd quarter worth $202,000. Harbor Capital Advisors Inc. grew its position in shares of Arlo Technologies by 51.0% in the third quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock valued at $170,000 after purchasing an additional 5,561 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arlo Technologies by 18.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,327 shares of the company’s stock worth $189,000 after purchasing an additional 2,896 shares during the period. Strs Ohio increased its stake in shares of Arlo Technologies by 203.4% in the third quarter. Strs Ohio now owns 17,900 shares of the company’s stock worth $184,000 after purchasing an additional 12,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of 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 purchasing an additional 8,429 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.03 on Thursday. The company has a 50-day simple moving average of $11.13 and a 200-day simple moving average of $9.78. Arlo Technologies, Inc. has a 52 week low of $6.18 and a 52 week high of $13.34. The firm has a market capitalization of $1.06 billion, a P/E ratio of -45.96 and a beta of 1.86.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results 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. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. The firm had revenue of $135.09 million for the quarter, compared to analyst estimates of $135.05 million. As a group, equities analysts forecast that Arlo Technologies, Inc. will post -0.06 earnings per share for the current year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of Arlo Technologies stock in a transaction on Thursday, February 1st. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction, the director now owns 127,012 shares of the company’s stock, valued at $1,148,188.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies 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 sale, the general counsel now directly owns 604,905 shares in the company, valued at $7,065,290.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 362,386 shares of company stock worth $3,947,459. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of Arlo Technologies in a research report on Wednesday.

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.