Arlo Technologies (NYSE:ARLO) Trading Up 4.9% - Still a Buy?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) traded up 4.9% during trading on Friday . The stock traded as high as $14.36 and last traded at $14.42. 848,147 shares were traded during trading, a decline of 3% from the average session volume of 873,641 shares. The stock had previously closed at $13.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th. BWS Financial restated a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Thursday, April 24th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies Price Performance

The company has a fifty day moving average of $10.83 and a 200-day moving average of $11.38. The firm has a market cap of $1.50 billion, a P/E ratio of -57.68 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly 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 return on equity of 24.14% and a negative net margin of 4.76%. The business had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Arlo Technologies's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 21,367 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 value of $221,575.79. Following the completion of the transaction, the general counsel now owns 656,785 shares in the company, valued at $6,810,860.45. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Blake Mcrae sold 26,435 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $304,002.50. Following the transaction, the chief executive officer now directly owns 3,205,132 shares in the company, valued at $36,859,018. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,147,062 shares of company stock worth $12,620,137 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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