Arlo Technologies (NYSE:ARLO) Trading Down 5.6%


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Arlo Technologies, Inc. (NYSE:ARLO) fell 5.6% on Tuesday . The stock traded as low as $6.08 and last traded at $6.68. 2,999,873 shares were traded during trading, an increase of 108% from the average session volume of 1,438,996 shares. The stock had previously closed at $7.08.

A number of brokerages recently issued reports on ARLO. BWS Financial raised their price target on Arlo Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. Zacks Investment Research lowered shares of Arlo Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 4th.

The stock has a market capitalization of $527.97 million, a P/E ratio of -7.86 and a beta of 1.91. The stock has a 50 day moving average of $8.15 and a 200-day moving average of $6.52.

In other news, General Counsel Brian Busse sold 8,346 shares of the business’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $9.68, for a total value of $80,789.28. Following the completion of the transaction, the general counsel now directly owns 374,611 shares of the company’s stock, valued at approximately $3,626,234.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have bought 507 shares of company stock worth $4,169. Corporate insiders own 1.10% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Aperio Group LLC bought a new position in shares of Arlo Technologies during the 3rd quarter worth approximately $61,000. Malaga Cove Capital LLC purchased a new stake in shares of Arlo Technologies during the 3rd quarter valued at $69,000. Marshall Wace LLP purchased a new stake in shares of Arlo Technologies during the 1st quarter valued at $74,000. A.R.T. Advisors LLC acquired a new stake in shares of Arlo Technologies in the 4th quarter worth $80,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in Arlo Technologies during the 1st quarter worth $80,000. 71.68% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile (NYSE:ARLO)

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, a LTE-enabled wire-free camera that provides untethered mobile security; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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