Brian Busse Sells 37,085 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) General Counsel Brian Busse sold 37,085 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $9.78, for a total value of $362,691.30. Following the transaction, the general counsel now owns 696,816 shares in the company, valued at $6,814,860.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Arlo Technologies Stock Performance

ARLO opened at $9.25 on Friday. Arlo Technologies, Inc. has a one year low of $2.93 and a one year high of $9.81. The stock has a market capitalization of $849.54 million, a PE ratio of -13.21 and a beta of 1.64. The business’s 50 day moving average price is $6.59 and its 200 day moving average price is $4.84.

Arlo Technologies (NYSE:ARLO – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. Arlo Technologies had a negative return on equity of 63.61% and a negative net margin of 13.09%. The firm had revenue of $118.53 million for the quarter, compared to analysts’ expectations of $106.62 million. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post -0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARLO has been the topic of several recent research reports. Lake Street Capital boosted their target price on Arlo Technologies from $10.00 to $12.00 in a report on Friday, May 12th. BWS Financial boosted their target price on Arlo Technologies from $8.00 to $11.00 in a report on Friday, May 12th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quilter Plc acquired a new position in Arlo Technologies in the first quarter valued at approximately $1,946,280,000. FMR LLC raised its position 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 purchasing an additional 2,269 shares during the period. Captrust Financial Advisors raised its position in Arlo Technologies by 70.3% in the first quarter. Captrust Financial Advisors now owns 6,619 shares of the company’s stock valued at $59,000 after purchasing an additional 2,732 shares during the period. Advisor Group Holdings Inc. raised its position in Arlo Technologies by 733.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,297 shares of the company’s stock valued at $32,000 after purchasing an additional 8,182 shares during the period. Finally, PNC Financial Services Group Inc. raised its position 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 valued at $34,000 after purchasing an additional 4,395 shares during the period. 72.87% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Company Profile

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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.