Arlo Technologies (NYSE:ARLO) Sets New 12-Month High on Analyst Upgrade

Arlo Technologies, Inc. (NYSE:ARLO – Get Rating)’s share price hit a new 52-week high during trading on Friday after BWS Financial raised their price target on the stock from $8.00 to $11.00. The company traded as high as $8.40 and last traded at $8.18, with a volume of 1100908 shares changing hands. The stock had previously closed at $7.05.

Separately, Lake Street Capital lifted their price objective on shares of Arlo Technologies from $10.00 to $12.00 in a report on Friday.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently modified their holdings of ARLO. FMR LLC lifted its holdings in Arlo Technologies by 83.7% in the first quarter. FMR LLC now owns 4,979 shares of the company’s stock valued at $30,000 after acquiring an additional 2,269 shares during the period. Captrust Financial Advisors increased its stake in shares of Arlo Technologies by 70.3% in the first quarter. Captrust Financial Advisors now owns 6,619 shares of the company’s stock worth $59,000 after buying an additional 2,732 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Arlo Technologies by 733.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,297 shares of the company’s stock worth $32,000 after buying an additional 8,182 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Arlo Technologies by 82.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,704 shares of the company’s stock worth $34,000 after acquiring an additional 4,395 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new position in Arlo Technologies in the 1st quarter worth approximately $61,000. 72.87% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Stock Performance

The company has a market capitalization of $814.36 million, a price-to-earnings ratio of -14.02 and a beta of 1.64. The business’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $4.70.

Arlo Technologies Company Profile

(Get Rating)

Arlo Technologies, Inc engages in the provision and development of cloud infrastructure and mobile app for smart connected devices. It offers wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors, smart security lights, and audio doorbell. It operates through the following geographical segments: United States, Spain, Ireland, and Other Countries.