Arlo Technologies (NYSE:ARLO) Hits New 1-Year High - Should You Buy?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s stock price hit 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 changing hands. The stock had previously closed at $17.23.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARLO shares. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. BWS Financial reissued a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a report on Monday, June 9th. Finally, Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th.

Arlo Technologies Stock Performance

The firm has a market cap of $1.77 billion, a P/E ratio of -77.75 and a beta of 2.01. The firm's fifty day moving average is $13.00 and its 200 day moving average is $11.88.

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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $118.35 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. Arlo Technologies's quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 25,405 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $9.90, for a total value of $251,509.50. Following the transaction, the chief executive officer now owns 2,580,370 shares in the company, valued at approximately $25,545,663. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian Busse sold 21,367 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $10.37, for a total transaction of $221,575.79. Following the sale, the general counsel now directly owns 656,785 shares of the company's stock, valued at $6,810,860.45. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,954 shares of company stock valued at $2,828,963. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Arlo Technologies

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 acquiring an additional 132,350 shares during the last quarter. Brandes Investment Partners LP increased its stake 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 valued at $64,147,000 after purchasing an additional 375,903 shares during the last quarter. Wasatch Advisors LP increased its stake 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 valued at $50,773,000 after purchasing an additional 790,549 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock worth $24,838,000 after buying an additional 26,803 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Arlo Technologies by 11.7% during the 4th quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock worth $19,147,000 after buying an additional 179,288 shares during the last quarter. 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.