Arlo Technologies (NYSE:ARLO) Receives "Buy" Rating from BWS Financial

Key Points

• BWS Financial raised its price target for Arlo Technologies from $24.00 to $26.00, suggesting a potential upside of 50.78% from the company's previous close.
• Despite a negative net margin of 1.38%, Arlo Technologies reported a quarterly revenue of $129.41 million, exceeding analysts' expectations of $123.33 million.
• Insider transactions revealed that CEO Matthew Blake Mcrae sold 372,488 shares of Arlo stock, representing a 13.99% decrease in his ownership.

Arlo Technologies (NYSE:ARLO - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BWS Financial in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $26.00 target price on the stock, up from their previous target price of $24.00. BWS Financial's price objective would suggest a potential upside of 56.61% from the company's previous close.

ARLO has been the subject of several other research reports. Craig Hallum increased their price target on shares of Arlo Technologies from $17.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating and set a $22.00 price target (up previously from $15.00) on shares of Arlo Technologies in a research report on Friday, August 8th.

Arlo Technologies Stock Down 3.8%

Shares of Arlo Technologies stock traded down $0.65 during trading on Monday, reaching $16.60. The company's stock had a trading volume of 1,753,286 shares, compared to its average volume of 1,082,798. Arlo Technologies has a 52-week low of $7.84 and a 52-week high of $19.25. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -237.14 and a beta of 1.85. The firm's 50-day moving average is $16.69 and its two-hundred day moving average is $13.11.

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

Insider Buying and Selling at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 520,557 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $17.40, for a total value of $9,057,691.80. Following the sale, the chief executive officer directly owned 1,621,835 shares of the company's stock, valued at $28,219,929. This represents a 24.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurtis Joseph Binder sold 113,912 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $18.56, for a total transaction of $2,114,206.72. Following the completion of the transaction, the chief financial officer owned 809,615 shares of the company's stock, valued at approximately $15,026,454.40. The trade was a 12.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,306,967 shares of company stock valued at $39,664,516 over the last 90 days. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank increased its stake in shares of Arlo Technologies by 2.4% in the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company's stock worth $496,000 after acquiring an additional 692 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Arlo Technologies by 5.4% in the 2nd quarter. Bank of Montreal Can now owns 15,694 shares of the company's stock worth $266,000 after acquiring an additional 810 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Arlo Technologies by 9.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,155 shares of the company's stock worth $172,000 after acquiring an additional 838 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Arlo Technologies by 0.3% in the 1st quarter. Rhumbline Advisers now owns 270,199 shares of the company's stock worth $2,667,000 after acquiring an additional 861 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Arlo Technologies by 2.5% in the 2nd quarter. Yousif Capital Management LLC now owns 38,479 shares of the company's stock worth $653,000 after acquiring an additional 954 shares in the last quarter. 83.18% of the stock is currently owned by 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.