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Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,480,000 shares, a decline of 11.7% from the September 15th total of 2,810,000 shares. Based on an average daily volume of 543,300 shares, the short-interest ratio is currently 4.6 days.
Insider Buying and Selling
In other news, CFO Gordon Mattingly sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer now directly owns 682,209 shares in the company, valued at approximately $4,782,285.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arlo Technologies news, Director Prashant Aggarwal sold 122,636 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $8.00, for a total transaction of $981,088.00. Following the transaction, the director now owns 27,397 shares in the company, valued at $219,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gordon Mattingly sold 25,000 shares of Arlo Technologies stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the transaction, the chief financial officer now directly owns 682,209 shares of the company’s stock, valued at $4,782,285.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,636 shares of company stock worth $1,436,338. Insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ARLO. KBC Group NV purchased a new position in shares of Arlo Technologies during the second quarter worth approximately $46,000. Captrust Financial Advisors increased its holdings in Arlo Technologies by 70.3% during the 1st quarter. Captrust Financial Advisors now owns 6,619 shares of the company’s stock worth $59,000 after purchasing an additional 2,732 shares during the period. Versor Investments LP bought a new stake in Arlo Technologies during the 2nd quarter valued at $68,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Arlo Technologies in the 2nd quarter worth $77,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Arlo Technologies during the 2nd quarter worth $82,000. Hedge funds and other institutional investors own 73.77% of the company’s stock.
Arlo Technologies Price Performance
Shares of ARLO traded down $0.11 during mid-day trading on Friday, reaching $4.41. 522,177 shares of the company’s stock traded hands, compared to its average volume of 531,658. The stock’s 50-day moving average is $5.70 and its two-hundred day moving average is $6.66. Arlo Technologies has a 12 month low of $4.35 and a 12 month high of $11.79. The stock has a market cap of $386.45 million, a P/E ratio of -9.00 and a beta of 1.68.
Arlo Technologies (NYSE:ARLO – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Arlo Technologies had a negative return on equity of 38.13% and a negative net margin of 8.44%. The company had revenue of $118.98 million during the quarter, compared to analysts’ expectations of $110.37 million. During the same quarter in the previous year, the business earned ($0.28) EPS. Arlo Technologies’s revenue was up 20.7% compared to the same quarter last year. Research analysts predict that Arlo Technologies will post -0.65 earnings per share for the current year.
Arlo Technologies Company Profile
(Get Rating)
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. It combines an intelligent cloud infrastructure and mobile app with various smart connected devices. The company offers Arlo essential indoor camera; Arlo Go 2 LTE/Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allows users to monitor their surroundings; and Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile security.
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