Legal & General Group Plc purchased a new stake in Arlo Technologies Inc (NYSE:ARLO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,854 shares of the company’s stock, valued at approximately $27,000.
A number of other institutional investors have also recently bought and sold shares of ARLO. FMR LLC acquired a new position in Arlo Technologies in the 3rd quarter valued at approximately $83,087,000. Primecap Management Co. CA acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $31,173,000. BlackRock Inc. acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $14,298,000. Macquarie Group Ltd. acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $12,500,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $12,324,000. 25.83% of the stock is owned by hedge funds and other institutional investors.
Shares of ARLO opened at $3.68 on Tuesday. The firm has a market capitalization of $266.12 million and a price-to-earnings ratio of -3.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.42 and a current ratio of 1.88. Arlo Technologies Inc has a 52 week low of $3.62 and a 52 week high of $23.77.
Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.04. Arlo Technologies had a negative return on equity of 31.50% and a negative net margin of 14.49%. The business had revenue of $129.30 million for the quarter, compared to analyst estimates of $128.58 million. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts forecast that Arlo Technologies Inc will post -1.59 EPS for the current year.
A number of equities analysts have recently issued reports on ARLO shares. Zacks Investment Research raised Arlo Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, December 12th. Cowen cut Arlo Technologies from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $7.50 in a report on Wednesday, February 6th. Finally, Imperial Capital dropped their target price on Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating for the company in a report on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $18.60.
About Arlo Technologies
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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