Arlo Technologies (NYSE:ARLO) Given “Buy” Rating at BWS Financial

BWS Financial reissued their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report report published on Monday,Benzinga reports. The firm currently has a $24.00 target price on the stock.

Other research analysts have also issued reports about the company. Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Trading Up 3.3%

ARLO stock opened at $17.33 on Monday. The firm’s 50-day moving average is $11.49 and its two-hundred day moving average is $11.55. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -69.32 and a beta of 2.01. Arlo Technologies has a 52 week low of $7.84 and a 52 week high of $17.64.

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

Insider Buying and Selling

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 25,405 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $9.90, for a total value of $251,509.50. Following the completion of the transaction, the chief executive officer now directly owns 2,580,370 shares in the company, valued at $25,545,663. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the sale, the chief financial officer now owns 977,457 shares in the company, valued at $10,458,789.90. This represents a 15.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 642,652 shares of company stock worth $6,774,031 in the last three months. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently modified their holdings of the business. Emerald Advisers LLC raised its position in Arlo Technologies by 116.9% during the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock valued at $18,648,000 after buying an additional 898,167 shares during the period. Goldman Sachs Group Inc. grew its stake in Arlo Technologies by 115.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock valued at $15,325,000 after acquiring an additional 830,770 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the period. Nuveen LLC acquired a new position in shares of Arlo Technologies in the 1st quarter valued at about $6,298,000. Finally, Hosking Partners LLP purchased a new stake in shares of Arlo Technologies in the first quarter worth approximately $6,118,000. Hedge funds and other 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.