On September 1, 2023, it was reported that Russell Investments Group Ltd. had reduced its stake in Arlo Technologies, Inc. by 7.7% during the first quarter of the year. This information was disclosed in the company’s most recent filing with the SEC. Russell Investments Group Ltd. owned approximately 0.17% of Arlo Technologies and sold 12,825 shares, resulting in a stake worth $926,000.
Arlo Technologies, Inc. is a global provider of cloud-based solutions and smart connected devices in various regions across the globe including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a range of products and services designed to enhance security and monitoring capabilities for both residential and commercial customers.
One of their flagship products is the Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations. This system combines intelligent cloud infrastructure and a mobile app with various smart connected devices.
They also offer a variety of cameras including the Arlo Pro 5S, a high-resolution security camera capable of capturing footage in 2K resolution. The Arlo Go 2 is another notable product designed for remote monitoring of areas such as construction sites or vacation homes.
In addition to cameras, Arlo Technologies provides other innovative products like the Arlo Video Doorbell which allows users to receive video calls directly on their mobile devices and receive personalized alerts. They also offer wire-free floodlight cameras, such as the Arlo Floodlight Camera, as well as advanced models like the Arlo Ultra 2.
The company’s lineup includes solutions for stand-alone home security such as the Essential XL spotlight camera and Essential indoor camera. They also offer LTE/Wi-Fi enabled security cameras like the Arlo Go 2 LTE/Wi-Fi for enhanced connectivity options.
Arlo Technologies continues to improve its product offerings and expand its market presence. The recent filing by Russell Investments Group Ltd. indicates a reduction in their stake, suggesting a shift in investment strategy. It will be interesting to see how Arlo Technologies navigates the evolving landscape of cloud-based security solutions and smart connected devices in the coming months and years.
Arlo Technologies, Inc.
ARLO
Buy
Updated on: 01/09/2023
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Arlo Technologies Sees Surging Interest from Hedge Funds and Institutional Investors, Demonstrating Confidence in Future Prospects
Arlo Technologies, a prominent player in the smart home security market, has seen a significant increase in interest from hedge funds and institutional investors. This surge in investment comes as the company continues to gain traction in the industry with its innovative products and strong financial performance.
One notable investor is Captrust Financial Advisors, which has grown its stake in Arlo Technologies by an astonishing 70.3% during the first quarter of this year. With now owning 6,619 shares of the company’s stock worth $59,000, this move demonstrates confidence in the company’s future prospects.
Another investor that stands out is Advisor Group Holdings Inc., which grew its stake in Arlo Technologies by a remarkable 733.8% during the fourth quarter of last year. This surge resulted in Advisor Group Holdings Inc. now owning 9,297 shares of the company’s stock, valued at $32,000.
PNC Financial Services Group Inc. also made a notable investment move by growing its stake in Arlo Technologies by 82.8% during the fourth quarter of last year as well. With PNC Financial Services Group Inc. now owning 9,704 shares valued at $34,000, this increase signifies confidence in the company’s potential growth.
Zurcher Kantonalbank Zurich Cantonalbank and Teacher Retirement System of Texas have also joined other institutional investors by purchasing stakes in Arlo Technologies worth $77,000 and $82,000 respectively during the second quarter of this year. Overall, these institutional investors combined own approximately 78.82% of the company’s stock.
In addition to these investments from hedge funds and institutional investors, Arlo Technologies has garnered attention from analysts who have released their reports on the company’s outlook. Lake Street Capital has increased their price objective on shares of Arlo Technologies from $12 to $14 and issued a “buy” rating for the stock on August 11th.
Craig Hallum initiated coverage on shares of Arlo Technologies with a “buy” rating and set a price objective of $17. BWS Financial also raised their price objective on the stock from $11 to $17, providing another “buy” rating. This positive sentiment from analysts further solidifies the company’s potential in the market.
Arlo Technologies stock opened at $9.77 on Friday, with a 50-day moving average price of $10.57 and a two-hundred day moving average price of $8.11. The company has shown an excellent performance over the past year, with its 1-year low at $2.93 and its 1-year high reaching $11.54.
In terms of financials, Arlo Technologies reported better-than-expected earnings per share for the second quarter, beating analysts’ consensus estimates by $0.02 with ($0.08) earnings per share for the quarter. With strong revenue of $115.08 million compared to the consensus estimate of $111.75 million, Arlo Technologies is well-positioned to continue its growth trajectory.
With a market cap of approximately $918.97 million, a P/E ratio of -15.03, and a beta of 1.63, Arlo Technologies proves itself as a lucrative investment opportunity for both institutional investors and individual traders alike.
As September unfolds, it will be interesting to observe how Arlo Technologies continues to evolve in response to these investments and analyst recommendations. The smart home security industry is growing rapidly, and Arlo Technologies seems well-equipped to capitalize on this market trend through its innovative products and strong financials.
