Arlo Technologies, Inc. (NYSE:ARLO) Given Consensus Rating of “Moderate Buy” by Analysts

Arlo Technologies, Inc. (NYSE:ARLO) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.3333.

Several research analysts have recently issued reports on the company. Weiss Ratings raised Arlo Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 6th. Zacks Research lowered Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th.

Insider Transactions at Arlo Technologies

In other news, General Counsel Brian Busse sold 31,407 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $12.29, for a total value of $385,992.03. Following the completion of the transaction, the general counsel owned 552,850 shares of the company’s stock, valued at approximately $6,794,526.50. This represents a 5.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 179,419 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $13.78, for a total value of $2,472,393.82. Following the completion of the sale, the chief financial officer directly owned 614,885 shares in the company, valued at approximately $8,473,115.30. This represents a 22.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 703,549 shares of company stock valued at $9,426,780. 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. Smartleaf Asset Management LLC boosted its position in shares of Arlo Technologies by 86.0% in 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. Hantz Financial Services Inc. grew its position in Arlo Technologies by 763.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock valued at $28,000 after purchasing an additional 1,748 shares during the last quarter. Quarry LP grew its position in Arlo Technologies by 42.0% during the 3rd quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after purchasing an additional 783 shares during the last quarter. Strs Ohio purchased a new stake in Arlo Technologies during the 1st quarter valued at about $66,000. Finally, Quadrant Capital Group LLC purchased a new stake in Arlo Technologies during the 3rd quarter valued at about $86,000. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Trading Down 1.5%

Shares of NYSE ARLO opened at $14.96 on Tuesday. Arlo Technologies has a 12 month low of $8.78 and a 12 month high of $19.94. The firm has a market capitalization of $1.60 billion, a PE ratio of 115.09 and a beta of 1.71. The firm has a fifty day simple moving average of $13.57 and a two-hundred day simple moving average of $14.46.

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

Arlo Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 4th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.