Arlo Technologies, Inc. (NYSE:ARLO) Receives $23.00 Average Target Price from Brokerages

Arlo Technologies, Inc. (NYSE:ARLO) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.00.

Several brokerages recently weighed in on ARLO. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Arlo Technologies in a report on Tuesday, November 11th. Zacks Research cut Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen raised Arlo Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 149,521 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $14.37, for a total transaction of $2,148,616.77. Following the sale, the general counsel directly owned 519,855 shares in the company, valued at approximately $7,470,316.35. The trade was a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.69, for a total value of $753,538.67. Following the completion of the sale, the chief financial officer directly owned 460,970 shares in the company, valued at $6,310,679.30. This trade represents a 10.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 833,807 shares of company stock worth $11,351,161. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Arlo Technologies by 86.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after purchasing an additional 747 shares in the last quarter. Quarry LP boosted its stake in shares of Arlo Technologies by 42.0% during the 3rd quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after purchasing an additional 783 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Arlo Technologies by 161.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after purchasing an additional 1,988 shares during the last quarter. Strs Ohio purchased a new stake in shares of Arlo Technologies during the first quarter worth about $66,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of Arlo Technologies in the third quarter valued at approximately $86,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

NYSE ARLO opened at $12.41 on Thursday. The firm’s fifty day moving average is $13.69 and its two-hundred day moving average is $15.77. Arlo Technologies has a one year low of $7.84 and a one year high of $19.94. The firm has a market cap of $1.32 billion, a PE ratio of 413.80 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $139.53 million for the quarter, compared to analyst estimates of $138.69 million. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. Research analysts predict that Arlo Technologies will post -0.29 earnings per share for the current year.

Trending Headlines about Arlo Technologies

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.