Arlo Technologies (NYSE:ARLO) Shares Gap Down After Analyst Downgrade

Arlo Technologies, Inc. (NYSE:ARLO) gapped down before the market opened on Friday after Craig Hallum lowered their price target on the stock from $17.00 to $15.00. The stock had previously closed at $12.16, but opened at $10.00. Craig Hallum currently has a buy rating on the stock. Arlo Technologies shares last traded at $10.56, with a volume of 730,582 shares.

A number of other research analysts have also issued reports on the stock. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, September 27th. Roth Mkm raised their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insider Activity

In other Arlo Technologies news, Director Ralph E. Faison bought 8,842 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently made changes to their positions in ARLO. Quest Partners LLC raised its position in Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the last quarter. Chilton Capital Management LLC acquired a new position in shares of Arlo Technologies in the second quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares during the period. CWM LLC boosted 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 acquiring an additional 1,778 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Arlo Technologies during the 2nd quarter valued at approximately $62,000. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Trading Down 2.0 %

The stock has a market cap of $1.19 billion, a P/E ratio of -54.18 and a beta of 1.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. The firm’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $12.68.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

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.