Arlo Technologies (NYSE:ARLO) Shares Gap Up - Time to Buy?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $14.60, but opened at $15.50. Arlo Technologies shares last traded at $15.52, with a volume of 570,494 shares changing hands.

Analyst Ratings Changes

ARLO has been the subject of a number of analyst reports. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. Craig Hallum raised their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, BWS Financial restated a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Thursday, April 24th.

Arlo Technologies Stock Performance

The company has a market cap of $1.74 billion, a P/E ratio of -67.20 and a beta of 2.01. The business's fifty day moving average is $11.34 and its two-hundred day moving average is $11.51.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The business had revenue of $119.07 million during the quarter, compared to analyst estimates of $118.35 million. During the same quarter in the previous year, the business posted $0.09 EPS. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 200,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $11.04, for a total transaction of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company's stock, valued at approximately $27,452,925.12. The trade was a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the sale, the chief financial officer now directly owns 977,457 shares in the company, valued at approximately $10,458,789.90. This represents a 15.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 842,652 shares of company stock valued at $8,982,031 in the last 90 days. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ARLO. Barclays PLC boosted its holdings in shares of Arlo Technologies by 234.5% in the 3rd quarter. Barclays PLC now owns 185,281 shares of the company's stock valued at $2,244,000 after acquiring an additional 129,889 shares during the last quarter. KBC Group NV boosted its holdings in shares of Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after acquiring an additional 3,185 shares during the last quarter. Choreo LLC purchased a new stake in shares of Arlo Technologies in the 4th quarter valued at $154,000. Stoneridge Investment Partners LLC grew its position in Arlo Technologies by 20.2% during the 4th quarter. Stoneridge Investment Partners LLC now owns 24,954 shares of the company's stock worth $279,000 after purchasing an additional 4,193 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Arlo Technologies by 2.3% during the 4th quarter. Rhumbline Advisers now owns 269,338 shares of the company's stock valued at $3,014,000 after buying an additional 6,101 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.

About Arlo Technologies

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.