Arlo Technologies (NYSE:ARLO) Earns “Buy” Rating from BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reaffirmed by analysts at BWS Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $17.00 target price on the stock. BWS Financial’s price target points to a potential upside of 54.83% from the stock’s current price.

Arlo Technologies Trading Up 0.5 %

Shares of ARLO stock traded up $0.05 during trading hours on Wednesday, hitting $10.98. 593,366 shares of the company were exchanged, compared to its average volume of 972,898. The business has a 50 day moving average of $11.08 and a two-hundred day moving average of $9.77. Arlo Technologies has a 52 week low of $6.18 and a 52 week high of $13.34. The company has a market capitalization of $1.06 billion, a PE ratio of -45.71 and a beta of 1.86.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, February 29th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. The business had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $135.05 million. On average, research analysts forecast that Arlo Technologies will post -0.06 EPS for the current year.

Insider Buying and Selling

In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the sale, the director now owns 127,012 shares in the company, valued at $1,148,188.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Miller Joycelyn Carter sold 32,000 shares of Arlo Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the transaction, the director now owns 127,012 shares of the company’s stock, valued at approximately $1,148,188.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 99,038 shares of Arlo Technologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the completion of the transaction, the chief financial officer now directly owns 720,800 shares of the company’s stock, valued at approximately $7,878,344. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,386 shares of company stock worth $3,947,459. 2.90% of the stock is owned by insiders.

Institutional Trading of Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Arlo Technologies in the 3rd quarter worth about $38,000. Victory Capital Management Inc. raised its stake in Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after purchasing an additional 1,378 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Arlo Technologies by 51.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock worth $170,000 after purchasing an additional 5,561 shares in the last quarter. Strs Ohio raised its stake in Arlo Technologies by 203.4% in the 3rd quarter. Strs Ohio now owns 17,900 shares of the company’s stock worth $184,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Arlo Technologies in the 3rd quarter worth about $184,000. Institutional investors own 83.18% of the company’s stock.

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. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.