Texas Permanent School Fund purchased a new stake in shares of Arlo Technologies Inc (NYSE:ARLO) during the 1st quarter, HoldingsChannel reports. The firm purchased 50,418 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank bought a new position in shares of Arlo Technologies during the first quarter valued at approximately $304,000. BancorpSouth Bank bought a new position in Arlo Technologies in the first quarter worth $102,000. Rhumbline Advisers raised its holdings in Arlo Technologies by 1,337.7% in the first quarter. Rhumbline Advisers now owns 212,652 shares of the company’s stock worth $878,000 after purchasing an additional 197,861 shares in the last quarter. NJ State Employees Deferred Compensation Plan raised its holdings in Arlo Technologies by 300.0% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 80,000 shares of the company’s stock worth $330,000 after purchasing an additional 60,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Arlo Technologies in the first quarter worth $207,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Shares of NYSE:ARLO traded down $0.06 on Monday, hitting $3.37. 6,433 shares of the company traded hands, compared to its average volume of 679,003. Arlo Technologies Inc has a 52 week low of $3.37 and a 52 week high of $23.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.31. The company has a market capitalization of $255.70 million and a PE ratio of -3.24.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, meeting the consensus estimate of ($0.55). Arlo Technologies had a negative return on equity of 42.61% and a negative net margin of 24.30%. The firm had revenue of $57.88 million during the quarter, compared to the consensus estimate of $50.40 million. Arlo Technologies’s revenue was down 42.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Arlo Technologies Inc will post -1.63 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Arlo Technologies from a “hold” rating to a “sell” rating in a report on Monday, February 18th. Cowen downgraded Arlo Technologies from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $7.50 in a report on Wednesday, February 6th. Imperial Capital decreased their price objective on Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating for the company in a report on Wednesday, February 6th. Finally, Bank of America downgraded Arlo Technologies from a “neutral” rating to an “underperform” rating in a 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 given a buy rating to the company’s stock. Arlo Technologies currently has a consensus rating of “Hold” and a consensus target price 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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