Arlo Technologies, Inc. (NYSE:ARLO) has recently caught the attention of Brandes Investment Partners LP, as the firm lifted its stake in the company by 16.9% during the first quarter of this year. According to its most recent Form 13F filing with the Securities & Exchange Commission, Brandes Investment Partners LP now owns approximately 2,394,880 shares of Arlo Technologies, worth $14,513,000. This represents an increase of 345,751 shares since the previous filing.
The rise in Brandes Investment Partners LP’s stake indicates a growing confidence in Arlo Technologies’ potential for future growth and success. As one of the leading providers of security cameras and related equipment, Arlo Technologies has positioned itself as a key player in the rapidly expanding market.
In addition to increasing its stake, Brandes Investment Partners LP also joins other hedge funds interested in Arlo Technologies’ stock. Investors who wish to keep track of these holdings can visit HoldingsChannel.com for the latest 13F filings and insider trades related to Arlo Technologies.
The market’s interest in Arlo Technologies is further evidenced by various research reports that have been published on the company. On August 11th, BWS Financial raised their target price from $11.00 to $17.00 and bestowed a “buy” rating on Arlo Technologies. Similarly, Lake Street Capital increased their price objective from $12.00 to $14.00 while maintaining a “buy” rating on August 11th as well.
These positive assessments mirror a recent report from Craig Hallum that initiated coverage on Arlo Technologies back in June with both a “buy” rating and a price objective of $17.00.
It is clear that experts across different financial firms are optimistic about the future prospects of Arlo Technologies Inc., underpinning its status as an appealing investment opportunity within the technology sector.
As of now, the new data provided by Brandes Investment Partners LP and the bullish research reports suggest that Arlo Technologies is poised for further growth in the coming months. Investors who believe in the company’s potential will certainly be keeping a close eye on its stock performance and any updates that arise.
It remains to be seen how Arlo Technologies will capitalize on this rising interest and whether it can meet the expectations set by both investors and analysts alike. However, with its current positive trajectory, Arlo Technologies seems well-positioned to navigate through these challenging times and thrive in an increasingly competitive market.
Arlo Technologies, Inc.
Updated on: 20/08/2023
9:00 PM (UTC)
Date:18 August, 2023
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Institutional Investors Show Confidence in Arlo Technologies’ Potential Growth
August 19, 2023 – Arlo Technologies, Inc. is a leading provider of cloud-based platforms and smart connected devices in various regions across the globe. The company has recently witnessed changes in its stock ownership as several hedge funds and institutional investors made adjustments to their positions.
One notable change came from Pale Fire Capital SE, which purchased a new stake in Arlo Technologies during the fourth quarter of last year. The stake was valued at approximately $8,051,000, indicating a significant investment in the company’s potential growth.
Another prominent investor, Vanguard Group Inc., increased its position in Arlo Technologies by 13.9% during the third quarter of last year. The company now owns 7,090,278 shares of Arlo Technologies’ stock worth $32,898,000 after acquiring an additional 864,735 shares in the last quarter.
Goldman Sachs Group Inc. also took notice of Arlo Technologies’ potential and increased its position in the company by a staggering 239.2% during the first quarter of this year. With 1,013,652 shares worth $8,981,000 newly acquired during that period, Goldman Sachs Group Inc.’s investment highlights its confidence in Arlo Technologies’ future prospects.
Divisar Capital Management LLC joined the list of institutional investors showcasing optimism towards Arlo Technologies by increasing its position by a remarkable 90.7% during the first quarter as well. They now hold 1,030,874 shares valued at $9,134,000 after acquiring an additional 490,287 shares.
Renaissance Technologies LLC also contributed to the surge of institutional investors targeting Arlo Technologies’ stock by boosting its stake by 79.6% during the fourth quarter of last year. With an additional acquisition of 387,900 shares valued at $3,072,000 during that period alone.
When considering these investments collectively and accounting for other institutional investors, it becomes evident that hedge funds and institutional investors hold a significant influence over Arlo Technologies’ stock. As of the recent data available, institutional investors and hedge funds own 75.82% of the company’s stock.
On August 19, Arlo Technologies’ stock (NYSE: ARLO) was trading at $10.03, experiencing a decrease of $0.16 during Friday’s trading session. The company had a trading volume of 224,902 shares, which is lower than its average volume of 1,065,566 shares. Arlo Technologies has had quite a fluctuating year with its 52-week low standing at $2.93 and its 52-week high reaching $11.54.
For more detailed information on the positions held by these hedge funds and institutional investors in Arlo Technologies, interested individuals may visit HoldingsChannel.com to access the latest 13F filings and insider trades related to the company.
Arlo Technologies offers a range of innovative products designed to enhance security and monitoring capabilities in residential and commercial settings. The company’s flagship offering 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.
Additionally, Arlo Technologies provides various smart cameras such as the Arlo Pro 5S for high-quality security footage, Arlo Go 2 for remote monitoring purposes in challenging environments, and the Arlo Video Doorbell for direct-to-mobile video calls and personalized alerts.
Other notable products include wire-free floodlight cameras such as the Arlo Floodlight Camera, advanced camera systems like the Arlo Ultra 2 and the standalone home security solution called Arlo Essential XL spotlight camera.
Furthermore, Arlo Technologies caters to customers seeking enhanced doorstep surveillance through products like the Arlo Essential Video Doorbell which offers users clear visibility on mobile devices when packages are delivered or visitors arrive.
Arlo Technologies also offers indoor security options with products like the Arlo Pro 4 camera and the Arlo Essential indoor camera. In addition, the company caters to those seeking both Wi-Fi and cellular security solutions through the Arlo Go 2 LTE/Wi-Fi security camera.
The combination of Arlo Technologies’ cloud-based infrastructure, mobile application, and smart connected devices positions the company as a leader in its field. With institutional investors recognizing its potential for growth, Arlo Technologies continues to establish itself as an important player in the global market for security and monitoring solutions.
Overall, the recent changes in stock ownership of Arlo Technologies by hedge funds and institutional investors highlight growing confidence in the company’s future prospects. As it continues to develop innovative products and expand its presence globally, Arlo Technologies remains a compelling player in the industry.