Arlo Technologies (NYSE:ARLO) Shares Gap Up – What’s Next?

Arlo Technologies, Inc. (NYSE:ARLO) gapped up before the market opened on Thursday . The stock had previously closed at $14.60, but opened at $15.50. Arlo Technologies shares last traded at $15.52, with a volume of 570,494 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Craig Hallum raised their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Roth Capital set a $22.00 target price on Arlo Technologies in a research note on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Thursday, April 24th.

Arlo Technologies Price Performance

The firm’s 50 day moving average is $11.34 and its 200 day moving average is $11.52. The company has a market capitalization of $1.74 billion, a PE ratio of -67.20 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The business had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. During the same quarter last year, the firm earned $0.09 EPS. The company’s revenue was down 4.1% on a year-over-year basis. As a group, analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

In other news, General Counsel Brian Busse sold 26,258 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $280,960.60. Following the sale, the general counsel now owns 636,485 shares in the company, valued at approximately $6,810,389.50. The trade was a 3.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 91,999 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $10.37, for a total transaction of $954,029.63. Following the completion of the sale, the chief executive officer now directly owns 2,660,745 shares in the company, valued at $27,591,925.65. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 842,652 shares of company stock valued at $8,982,031. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its position in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. KBC Group NV grew its position in Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after purchasing an additional 3,185 shares during the last quarter. Strs Ohio bought a new stake in Arlo Technologies during the 1st quarter valued at about $66,000. GAMMA Investing LLC raised its holdings in Arlo Technologies by 40.9% in the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock worth $71,000 after buying an additional 2,095 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Arlo Technologies in the fourth quarter worth approximately $121,000. Institutional investors own 83.18% of the company’s stock.

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.