Bank of America Corp DE trimmed its stake in shares of Arlo Technologies Inc (NYSE:ARLO) by 47.2% in the fourth quarter, HoldingsChannel reports. The firm owned 78,236 shares of the company’s stock after selling 69,937 shares during the quarter. Bank of America Corp DE’s holdings in Arlo Technologies were worth $781,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Arlo Technologies during the 3rd quarter worth approximately $14,298,000. Bank of New York Mellon Corp increased its position in Arlo Technologies by 3,141.7% during the 4th quarter. Bank of New York Mellon Corp now owns 947,946 shares of the company’s stock worth $9,460,000 after purchasing an additional 918,704 shares in the last quarter. Geode Capital Management LLC increased its position in Arlo Technologies by 952.1% during the 4th quarter. Geode Capital Management LLC now owns 812,241 shares of the company’s stock worth $8,106,000 after purchasing an additional 735,042 shares in the last quarter. Vanguard Group Inc. acquired a new position in Arlo Technologies during the 3rd quarter worth approximately $11,714,000. Finally, Vanguard Group Inc acquired a new position in Arlo Technologies during the 3rd quarter worth approximately $11,714,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Shares of NYSE ARLO opened at $4.26 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 0.11. Arlo Technologies Inc has a 52-week low of $3.37 and a 52-week high of $23.77. The company has a market capitalization of $300.44 million and a price-to-earnings ratio of -4.18.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.55). Arlo Technologies had a negative net margin of 24.30% and a negative return on equity of 42.61%. The firm had revenue of $57.88 million during the quarter, compared to analysts’ expectations of $50.40 million. The firm’s revenue for the quarter was down 42.5% on a year-over-year basis. As a group, research analysts expect that Arlo Technologies Inc will post -1.63 earnings per share for the current year.

In other Arlo Technologies news, Director Ralph E. Faison purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was purchased at an average cost of $4.24 per share, for a total transaction of $212,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae purchased 45,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $4.46 per share, with a total value of $200,700.00. The disclosure for this purchase can be found here.

A number of equities analysts recently issued reports on the stock. Bank of America cut shares of Arlo Technologies from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 6th. Cowen cut shares of Arlo Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $7.50 in a research report on Wednesday, February 6th. Zacks Investment Research cut shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Finally, Imperial Capital lowered their price objective on shares of Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating for the company in a research report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.60.

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Arlo Technologies Profile

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

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