Texas Permanent School Fund Invests $208,000 in Arlo Technologies Inc (ARLO)
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.
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.
WARNING: “Texas Permanent School Fund Invests $208,000 in Arlo Technologies Inc (ARLO)” was originally published by Watch List News and is the property of of Watch List News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/texas-permanent-school-fund-invests-208000-in-arlo-technologies-inc-arlo/3030303.html.
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.
Featured Story: What is a front-end load?
Want to see what other hedge funds are holding ARLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arlo Technologies Inc (NYSE:ARLO).
Receive News & Ratings for Arlo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arlo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.