Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells 92,247 Shares

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 92,247 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $10.37, for a total value of $1,401,847.71.

Arlo Technologies Price Performance

NYSE ARLO traded up $0.67 on Friday, hitting $17.60. The stock had a trading volume of 1,481,761 shares, compared to its average volume of 925,448. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.98. The business's fifty day moving average price is $14.55 and its 200 day moving average price is $12.18. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -80.00 and a beta of 2.03.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 21.67% and a negative net margin of 4.29%. 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 prior year, the company posted $0.09 EPS. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Arlo Technologies

Several large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after buying an additional 1,191 shares during the last quarter. Strs Ohio purchased a new position in Arlo Technologies during the first quarter valued at approximately $66,000. GAMMA Investing LLC raised its position in Arlo Technologies by 40.9% during the first 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 in the last quarter. Magnetar Financial LLC acquired a new position in Arlo Technologies in the first quarter valued at approximately $117,000. Finally, Fox Run Management L.L.C. purchased a new stake in Arlo Technologies in the 1st quarter worth approximately $119,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.