Arlo Technologies (NYSE:ARLO) Sets New 1-Year High - Time to Buy?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $17.98 and last traded at $17.73, with a volume of 406111 shares changing hands. The stock had previously closed at $16.93.

Analysts Set New Price Targets

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

Arlo Technologies Stock Up 4.0%

The stock's fifty day moving average price is $14.40 and its 200-day moving average price is $12.14. The company has a market capitalization 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 issued its quarterly 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 net margin of 4.29% and a negative return on equity of 21.67%. The firm 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 business earned $0.09 EPS. The company's revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at Arlo Technologies

In related news, General Counsel Brian Busse sold 21,367 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total value of $221,575.79. Following the completion of the transaction, the general counsel directly owned 656,785 shares of the company's stock, valued at approximately $6,810,860.45. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurtis Joseph Binder sold 135,183 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.37, for a total transaction of $1,401,847.71. Following the sale, the chief financial officer directly owned 1,092,274 shares in the company, valued at $11,326,881.38. This trade represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,589,447 shares of company stock worth $25,137,645 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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