Arlo Technologies (NYSE:ARLO – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -$0.17–$0.10 for the period, compared to the consensus earnings per share estimate of -$0.12. The company issued revenue guidance of $125.00 million-$135.00 million, compared to the consensus revenue estimate of $124.39 million.
Arlo Technologies Trading Down 1.9 %
Shares of Arlo Technologies stock traded down $0.11 during trading hours on Tuesday, reaching $5.59. 3,326 shares of the company’s stock were exchanged, compared to its average volume of 614,326. The company has a fifty day moving average of $6.70 and a 200-day moving average of $7.63. Arlo Technologies has a 52-week low of $5.67 and a 52-week high of $11.79.
Arlo Technologies (NYSE:ARLO – Get Rating) last issued its earnings results on Tuesday, August 9th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $118.98 million for the quarter, compared to analyst estimates of $110.37 million. Arlo Technologies had a negative return on equity of 38.13% and a negative net margin of 8.44%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted ($0.28) EPS. Analysts anticipate that Arlo Technologies will post -0.65 earnings per share for the current year.
Insider Buying and Selling
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In related news, CFO Gordon Mattingly sold 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer now directly owns 682,209 shares of the company’s stock, valued at approximately $4,782,285.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Prashant Aggarwal sold 122,636 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $8.00, for a total value of $981,088.00. Following the completion of the sale, the director now directly owns 27,397 shares in the company, valued at approximately $219,176. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gordon Mattingly sold 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer now owns 682,209 shares of the company’s stock, valued at $4,782,285.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,636 shares of company stock valued at $1,436,338. 2.60% of the stock is currently owned by company insiders.
Institutional Trading of Arlo Technologies
Several large investors have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC grew its stake in shares of Arlo Technologies by 4,868.0% during the first quarter. SkyView Investment Advisors LLC now owns 36,465 shares of the company’s stock valued at $323,000 after acquiring an additional 35,731 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Arlo Technologies by 128.8% during the first quarter. XTX Topco Ltd now owns 36,443 shares of the company’s stock valued at $323,000 after acquiring an additional 20,516 shares in the last quarter. KB Financial Partners LLC grew its stake in shares of Arlo Technologies by 18.2% during the first quarter. KB Financial Partners LLC now owns 34,114 shares of the company’s stock valued at $302,000 after acquiring an additional 5,259 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Arlo Technologies during the first quarter valued at about $283,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Arlo Technologies during the first quarter valued at about $252,000. 73.77% of the stock is currently owned by institutional investors and hedge funds.
About Arlo Technologies
Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. It combines an intelligent cloud infrastructure and mobile app with various smart connected devices. The company offers Arlo essential indoor camera; Arlo Go 2 LTE/Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allows users to monitor their surroundings; and Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile security.
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