Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 113,912 Shares

Key Points

• Kurtis Joseph Binder, CFO of Arlo Technologies, sold **113,912 shares** of the company's stock at an average price of **$18.56**, totaling **$2.11 million**, which decreased his ownership by **12.33%**.
• Arlo Technologies reported an earnings per share (EPS) of **$0.17**, surpassing analyst expectations of **$0.15**, with quarterly revenue of **$129.41 million**, reflecting a **1.6% increase** from the previous year.
• Analysts have raised their price targets for Arlo Technologies, with **Craig Hallum** setting a new target of **$22.00** and **BWS Financial** increasing theirs to **$26.00**, both maintaining a "buy" rating, indicating **positive sentiment** for the stock's future performance.

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 113,912 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.56, for a total value of $2,114,206.72. Following the sale, the chief financial officer owned 809,615 shares of the company's stock, valued at $15,026,454.40. The trade was a 12.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, July 1st, Kurtis Joseph Binder sold 92,247 shares of Arlo Technologies stock. The stock was sold at an average price of $17.17, for a total value of $1,583,880.99.

Arlo Technologies Price Performance

Shares of NYSE:ARLO traded up $0.90 during trading on Tuesday, reaching $18.10. The company had a trading volume of 4,775,036 shares, compared to its average volume of 1,432,157. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.25. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -258.59 and a beta of 1.85. The stock's fifty day moving average price is $16.64 and its 200 day moving average price is $13.08.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. Arlo Technologies had a negative return on equity of 6.69% and a negative net margin of 1.38%. The company had revenue of $129.41 million for the quarter, compared to the consensus estimate of $123.33 million. During the same period in the previous year, the business earned $0.10 earnings per share. Arlo Technologies's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds have recently modified their holdings of ARLO. First Horizon Advisors Inc. boosted its position in Arlo Technologies by 161.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company's stock valued at $55,000 after purchasing an additional 1,988 shares during the period. Strs Ohio bought a new stake in Arlo Technologies in the first quarter worth about $66,000. GAMMA Investing LLC lifted its holdings in Arlo Technologies by 40.9% in the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company's stock valued at $71,000 after acquiring an additional 2,095 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Arlo Technologies by 9.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,155 shares of the company's stock valued at $172,000 after acquiring an additional 838 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Arlo Technologies in the 4th quarter valued at $130,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARLO. Craig Hallum lifted their price objective on Arlo Technologies from $17.00 to $22.00 and gave the company a "buy" rating in a research note on Friday. BWS Financial reiterated a "buy" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Arlo Technologies in a research note on Monday. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $22.00 price objective (up previously from $15.00) on shares of Arlo Technologies in a research note on Friday.

About Arlo Technologies

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.

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