Arlo Technologies (NYSE:ARLO) Stock Rating Reaffirmed by BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reiterated by BWS Financial in a report issued on Wednesday, Benzinga reports. They currently have a $17.00 price target on the stock. BWS Financial’s target price would indicate a potential upside of 51.72% from the company’s previous close.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $11.21 on Wednesday. Arlo Technologies has a 1 year low of $6.19 and a 1 year high of $13.34. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -46.69 and a beta of 1.86. The business has a fifty day moving average of $11.16 and a 200-day moving average of $9.79.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. The business had revenue of $135.09 million during the quarter, compared to analyst estimates of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. On average, equities research analysts predict that Arlo Technologies will post -0.06 EPS for the current year.

Insider Activity

In other news, Director Miller Joycelyn Carter sold 32,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $9.04, for a total transaction of $289,280.00. Following the completion of the sale, the director now directly owns 127,012 shares of the company’s stock, valued at $1,148,188.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arlo Technologies news, General Counsel Brian Busse sold 42,161 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the transaction, the general counsel now directly owns 661,878 shares of the company’s stock, valued at approximately $7,260,801.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Miller Joycelyn Carter sold 32,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the transaction, the director now directly owns 127,012 shares in the company, valued at $1,148,188.48. The disclosure for this sale can be found here. Insiders sold a total of 362,386 shares of company stock valued at $3,947,459 over the last three months. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARLO. Acadian Asset Management LLC acquired a new position in Arlo Technologies in the 3rd quarter worth about $38,000. Victory Capital Management Inc. increased its position in Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after purchasing an additional 1,378 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Arlo Technologies by 51.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock worth $170,000 after purchasing an additional 5,561 shares during the last quarter. Strs Ohio increased its position in Arlo Technologies by 7.3% in the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Arlo Technologies in the 3rd quarter worth about $184,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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.