BWS Financial Reaffirms "Buy" Rating for Arlo Technologies (NYSE:ARLO)

Arlo Technologies (NYSE:ARLO - Get Free Report)'s stock had its "buy" rating reissued by research analysts at BWS Financial in a research report issued on Monday,Benzinga reports. They presently have a $24.00 price objective on the stock. BWS Financial's target price would indicate a potential upside of 43.67% from the stock's current price.

ARLO has been the subject of a number of other research reports. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum upped their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th.

Arlo Technologies Trading Down 0.4%

Arlo Technologies stock traded down $0.08 during midday trading on Monday, hitting $16.71. The stock had a trading volume of 117,559 shares, compared to its average volume of 881,836. The business has a fifty day moving average price of $11.34 and a 200 day moving average price of $11.51. Arlo Technologies has a 12 month low of $7.84 and a 12 month high of $17.64. The stock has a market cap of $1.73 billion, a P/E ratio of -66.74 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 analysts' consensus estimates 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 firm had revenue of $119.07 million for the quarter, compared to analysts' expectations of $118.35 million. During the same quarter last year, the company posted $0.09 earnings per share. Arlo Technologies's revenue was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Arlo Technologies will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now directly owns 2,580,370 shares of the company's stock, valued at $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 available through this hyperlink. Also, General Counsel Brian Busse sold 21,367 shares of the firm's stock in a transaction that occurred 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 transaction, the general counsel now owns 656,785 shares of the company's stock, valued at $6,810,860.45. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 642,652 shares of company stock valued at $6,774,031. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arlo Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Emerald Advisers LLC increased its position in Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company's stock valued at $18,648,000 after acquiring an additional 898,167 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Arlo Technologies by 115.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company's stock worth $15,325,000 after buying an additional 830,770 shares in the last quarter. Wasatch Advisors LP boosted its position in 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 buying an additional 790,549 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Arlo Technologies in the 1st quarter valued at $6,298,000. Finally, Hosking Partners LLP bought a new stake in shares of Arlo Technologies during the first quarter worth $6,118,000. 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.

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