Arlo Technologies (NYSE:ARLO) Stock: Insider Kurtis Joseph Binder Sells 33,394 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Binder sold 33,394 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $15.03, for a total value of $501,911.82. Following the transaction, the chief financial officer owned 312,147 shares in the company, valued at $4,691,569.41. This represents a 9.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 29th, Kurtis Binder sold 13,358 shares of Arlo Technologies stock. The shares were sold at an average price of $12.58, for a total value of $168,043.64.
• On Monday, September 28th, Kurtis Binder sold 83,211 shares of Arlo Technologies stock. The shares were sold at an average price of $12.44, for a total value of $1,035,144.84.

Arlo Technologies Stock Down 2.6%

Shares of ARLO stock traded down $0.40 during trading hours on Thursday, hitting $14.82. 2,241,094 shares of the company’s stock were exchanged, compared to its average volume of 1,423,011. Arlo Technologies, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $17.76. The firm has a market cap of $1.61 billion, a P/E ratio of 54.90 and a beta of 1.59. The firm has a 50 day moving average of $13.03 and a two-hundred day moving average of $13.39.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $149.18 million during the quarter, compared to analyst estimates of $144.93 million. Arlo Technologies had a net margin of 5.20% and a return on equity of 17.29%. On average, equities analysts forecast that Arlo Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arlo Technologies by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,277 shares of the company’s stock valued at $834,000 after buying an additional 2,607 shares in the last quarter. Covestor Ltd grew its position in shares of Arlo Technologies by 44.2% in the 3rd quarter. Covestor Ltd now owns 3,029 shares of the company’s stock valued at $38,000 after buying an additional 929 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Arlo Technologies during the 3rd quarter worth $175,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Arlo Technologies during the 3rd quarter worth $248,000. Finally, Choreo LLC lifted its position in Arlo Technologies by 7.4% in the third quarter. Choreo LLC now owns 13,695 shares of the company’s stock valued at $170,000 after acquiring an additional 943 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARLO. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a report on Friday, October 30th. Wall Street Zen cut shares of Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Piper Sandler lowered their price target on shares of Arlo Technologies from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Arlo Technologies Company Profile

Arlo Technologies, Inc is a smart home security company that develops connected devices and cloud-based services designed to help consumers monitor and protect their homes, businesses and other properties. Its product portfolio includes wire-free and wired security cameras, video doorbells, floodlight cameras, home security systems and related accessories.

Arlo’s products typically connect through mobile applications and cloud services, providing features such as live video, motion detection, two-way audio, night vision and notifications.