Kurtis Joseph Binder Sells 25,000 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 25,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.19, for a total transaction of $379,750.00. Following the completion of the sale, the chief financial officer owned 564,885 shares of the company’s stock, valued at $8,580,603.15. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kurtis Joseph Binder also recently made the following trade(s):

• On Monday, April 6th, Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00.
• On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The stock was sold at an average price of $13.78, for a total transaction of $2,472,393.82.
• On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The stock was sold at an average price of $15.11, for a total transaction of $146,038.15.
• On Tuesday, March 3rd, Kurtis Joseph Binder sold 12,539 shares of Arlo Technologies stock. The stock was sold at an average price of $14.93, for a total transaction of $187,207.27.

Arlo Technologies Stock Down 0.8%

NYSE:ARLO traded down $0.12 during trading hours on Tuesday, reaching $14.85. The company had a trading volume of 962,869 shares, compared to its average volume of 1,391,395. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 114.25 and a beta of 1.71. The business’s 50-day simple moving average is $13.57 and its two-hundred day simple moving average is $14.46. Arlo Technologies, Inc. has a twelve month low of $9.05 and a twelve month high of $19.94.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $141.30 million during the quarter, compared to analysts’ expectations of $135.57 million. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. As a group, equities analysts predict that Arlo Technologies, Inc. will post 0.16 earnings per share for the current year.

Arlo Technologies announced that its board has approved a share repurchase program on Wednesday, March 4th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ARLO. Smartleaf Asset Management LLC lifted its stake in shares of Arlo Technologies by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock valued at $28,000 after buying an additional 747 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Arlo Technologies by 763.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock valued at $28,000 after buying an additional 1,748 shares in the last quarter. Quarry LP lifted its stake in shares of Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after buying an additional 783 shares in the last quarter. Strs Ohio bought a new position in shares of Arlo Technologies in the first quarter valued at $66,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Arlo Technologies in the third quarter valued at $86,000. 83.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARLO has been the topic of a number of recent research reports. Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings raised shares of Arlo Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 6th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Arlo Technologies Company Profile

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.