Credit Suisse AG Takes Position in Arlo Technologies, Inc. (NYSE:ARLO)


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Credit Suisse AG bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,864 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Arlo Technologies by 50.0% in the 1st quarter. FMR LLC now owns 11,138,225 shares of the company’s stock worth $46,001,000 after buying an additional 3,713,841 shares during the period. BlackRock Inc. boosted its holdings in Arlo Technologies by 5.5% in the 4th quarter. BlackRock Inc. now owns 11,886,016 shares of the company’s stock worth $92,591,000 after buying an additional 621,440 shares during the period. Wells Fargo & Company MN boosted its holdings in Arlo Technologies by 88.4% in the 4th quarter. Wells Fargo & Company MN now owns 225,854 shares of the company’s stock worth $1,759,000 after buying an additional 105,952 shares during the period. Renaissance Technologies LLC boosted its holdings in Arlo Technologies by 8.7% in the 4th quarter. Renaissance Technologies LLC now owns 971,729 shares of the company’s stock worth $7,570,000 after buying an additional 77,899 shares during the period. Finally, QS Investors LLC bought a new position in Arlo Technologies in the 4th quarter worth approximately $545,000. 71.68% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies stock opened at $6.04 on Wednesday. The firm’s fifty day moving average price is $7.14 and its 200-day moving average price is $6.87. The stock has a market cap of $486.24 million, a P/E ratio of -7.11 and a beta of 1.91. Arlo Technologies, Inc. has a fifty-two week low of $1.91 and a fifty-two week high of $10.49.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Monday, February 22nd. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.10. The firm had revenue of $114.80 million for the quarter, compared to analysts’ expectations of $111.57 million. Arlo Technologies had a negative net margin of 18.21% and a negative return on equity of 39.33%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Arlo Technologies, Inc. will post -1.39 EPS for the current year.

Several research analysts recently commented on ARLO shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Arlo Technologies from $7.00 to $11.00 in a report on Wednesday, February 24th. Raymond James increased their target price on shares of Arlo Technologies from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Zacks Investment Research upgraded shares of Arlo Technologies from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Monday, March 1st. Finally, BWS Financial increased their target price on shares of Arlo Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 6th.

In other news, General Counsel Brian Busse sold 8,346 shares of the firm’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $9.68, for a total transaction of $80,789.28. Following the sale, the general counsel now owns 374,611 shares in the company, valued at approximately $3,626,234.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 515 shares of company stock worth $4,162. Corporate insiders own 1.10% of the company’s stock.

About Arlo Technologies

Arlo Technologies, Inc, together with its subsidiaries, provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Go, a LTE-enabled wire-free camera that provides untethered mobile security; Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision; Arlo Chime, a product that plugs into standard wall outlet and pairs with the Arlo Audio Doorbell to play various ringtones or act as a siren; and Arlo Ultra, an integrated spotlight and crystal-clear two-way audio with advanced noise cancellations camera.

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Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

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