Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 7,098 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arlo Technologies Stock Performance

Arlo Technologies stock traded up $0.27 during midday trading on Monday, hitting $12.10. 877,482 shares of the company were exchanged, compared to its average volume of 973,812. The firm has a market capitalization of $1.18 billion, a PE ratio of -67.17 and a beta of 1.76. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The business has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $12.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same period last year, the company earned ($0.08) earnings per share. Arlo Technologies’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Roth Mkm increased their price objective on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday.

Institutional Trading of Arlo Technologies

Institutional investors have recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new stake in Arlo Technologies in the second quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the period. CWM LLC grew its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Arlo Technologies in the second quarter valued at approximately $62,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Arlo Technologies in the second quarter valued at approximately $138,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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.