Louisiana State Employees Retirement System Makes New $450,000 Investment in Arlo Technologies, Inc. (NYSE:ARLO)

Louisiana State Employees Retirement System bought a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,300 shares of the company’s stock, valued at approximately $450,000.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Arlo Technologies by 229.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock valued at $9,161,000 after buying an additional 619,049 shares during the period. Vanguard Group Inc. raised its stake in shares of Arlo Technologies by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock valued at $97,900,000 after acquiring an additional 451,236 shares during the period. Brandes Investment Partners LP lifted its holdings in shares of Arlo Technologies by 29.4% in the 3rd quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock worth $42,754,000 after acquiring an additional 943,089 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Arlo Technologies by 119.1% during the 3rd quarter. GSA Capital Partners LLP now owns 175,289 shares of the company’s stock worth $1,805,000 after purchasing an additional 95,275 shares during the period. Finally, Cannell Capital LLC increased its holdings in Arlo Technologies by 7.5% in the 3rd quarter. Cannell Capital LLC now owns 2,322,123 shares of the company’s stock valued at $23,918,000 after purchasing an additional 162,470 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 $12.11 on Tuesday. The stock has a market capitalization of $1.16 billion, a PE ratio of -50.44 and a beta of 1.86. The company’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $9.83. Arlo Technologies, Inc. has a 1 year low of $6.24 and a 1 year high of $13.34.

Arlo Technologies (NYSE:ARLO) last issued its quarterly 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. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. The company had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $135.05 million. On average, sell-side analysts predict that Arlo Technologies, Inc. will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Brian Busse sold 42,161 shares of Arlo Technologies 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 transaction, the general counsel now owns 661,878 shares in the company, valued at approximately $7,260,801.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arlo Technologies news, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total value of $462,506.17. Following the sale, the general counsel now directly owns 661,878 shares of the company’s stock, valued at approximately $7,260,801.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction on 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 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. Insiders have sold a total of 362,386 shares of company stock worth $3,947,459 in the last quarter. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Arlo Technologies Company 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.