Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells $1,583,880.99 in Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 92,247 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $17.17, for a total transaction of $1,583,880.99. Following the completion of the transaction, the chief financial officer directly owned 923,527 shares in the company, valued at $15,856,958.59. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, May 8th, Kurtis Joseph Binder sold 135,183 shares of Arlo Technologies stock. The stock was sold at an average price of $10.37, for a total transaction of $1,401,847.71.

Arlo Technologies Stock Up 4.0%

Shares of Arlo Technologies stock traded up $0.67 during trading on Thursday, reaching $17.60. The company's stock had a trading volume of 1,481,761 shares, compared to its average volume of 921,720. The business has a 50 day moving average price of $14.24 and a 200-day moving average price of $12.11. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.94. The company has a market capitalization of $1.83 billion, a P/E ratio of -80.00 and a beta of 2.03.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The company had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. During the same period in the previous year, the firm earned $0.09 EPS. The business's revenue was down 4.1% on a year-over-year basis. Research analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Monday, June 9th.

Institutional Trading of Arlo Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Arlo Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company's stock valued at $98,244,000 after buying an additional 132,350 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock worth $64,147,000 after acquiring an additional 375,903 shares during the period. Wasatch Advisors LP grew its holdings in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock worth $50,773,000 after acquiring an additional 790,549 shares during the period. Geode Capital Management LLC increased its stake in Arlo Technologies by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock valued at $24,838,000 after purchasing an additional 26,803 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Arlo Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock worth $19,147,000 after purchasing an additional 179,288 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.