Arlo Technologies (NYSE:ARLO) Sets New 12-Month High - Should You Buy?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.70 and last traded at $17.58, with a volume of 550474 shares trading hands. The stock had previously closed at $17.23.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARLO shares. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum raised their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, BWS Financial reaffirmed a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Monday, June 9th.

Arlo Technologies Stock Down 0.2%

The stock's 50 day moving average price is $12.51 and its 200-day moving average price is $11.78. The stock has a market capitalization of $1.79 billion, a PE ratio of -78.37 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (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 analysts' expectations of $118.35 million. During the same period in the prior year, the business earned $0.09 EPS. The firm's quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 157,851 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,689,005.70. Following the completion of the transaction, the chief executive officer now directly owns 2,558,425 shares in the company, valued at approximately $27,375,147.50. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,975,102.30. Following the completion of the transaction, the chief financial officer now owns 977,457 shares in the company, valued at $10,458,789.90. The trade was a 15.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,652 shares of company stock worth $6,774,031. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arlo Technologies

Large investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of Arlo Technologies by 2.3% in the fourth quarter. Rhumbline Advisers now owns 269,338 shares of the company's stock worth $3,014,000 after acquiring an additional 6,101 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Arlo Technologies by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 489,270 shares of the company's stock valued at $5,475,000 after purchasing an additional 16,211 shares during the period. Sanctuary Advisors LLC boosted its holdings in Arlo Technologies by 5.0% in the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after purchasing an additional 2,284 shares during the period. Truist Financial Corp grew its stake in Arlo Technologies by 14.3% during the 4th quarter. Truist Financial Corp now owns 22,759 shares of the company's stock worth $255,000 after purchasing an additional 2,841 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock worth $1,029,000 after purchasing an additional 1,018 shares during the period. Institutional investors and hedge funds own 83.18% of the company's stock.

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.