Arlo Technologies (NYSE:ARLO) Sets New 12-Month High at $13.40

Arlo Technologies, Inc. (NYSE:ARLO)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $13.40 and last traded at $13.37, with a volume of 78003 shares changing hands. The stock had previously closed at $12.96.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and set a $17.00 price objective on shares of Arlo Technologies in a research report on Wednesday, April 24th.

Arlo Technologies Trading Up 4.3 %

The company’s fifty day simple moving average is $11.59 and its 200-day simple moving average is $9.94. The stock has a market cap of $1.31 billion, a P/E ratio of -54.00 and a beta of 1.87.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million for the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. As a group, analysts expect that Arlo Technologies, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total transaction of $665,444.64. Following the sale, the general counsel now directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total transaction of $665,444.64. Following the sale, the general counsel now directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurtis Joseph Binder sold 99,038 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the sale, the chief financial officer now directly owns 720,800 shares in the company, valued at $7,878,344. The disclosure for this sale can be found here. Insiders have sold a total of 330,386 shares of company stock valued at $3,658,179 over the last quarter. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arlo Technologies

A number of large investors have recently modified their holdings of ARLO. Acadian Asset Management LLC acquired a new position in shares of Arlo Technologies during the third quarter worth approximately $38,000. Victory Capital Management Inc. lifted its position in shares of Arlo Technologies by 9.7% during the third 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. lifted its holdings in Arlo Technologies by 14.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock valued at $179,000 after buying an additional 2,311 shares during the period. Strs Ohio lifted its holdings in Arlo Technologies by 7.3% in the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock valued at $182,000 after buying an additional 1,300 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Arlo Technologies in the third quarter valued at approximately $184,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Company Profile

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.