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

Arlo Technologies (NYSE:ARLO - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BWS Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $24.00 price objective on the stock. BWS Financial's price objective suggests a potential upside of 43.11% from the company's previous close.

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

Arlo Technologies Trading Down 1.5%

Shares of Arlo Technologies stock traded down $0.25 during trading hours on Monday, reaching $16.77. The stock had a trading volume of 718,826 shares, compared to its average volume of 887,200. The firm has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $11.66. Arlo Technologies has a 1 year low of $7.84 and a 1 year high of $17.64. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -67.08 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released 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. The firm had revenue of $119.07 million for the quarter, compared to the consensus estimate of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Sell-side analysts forecast that Arlo Technologies will post -0.29 EPS for the current year.

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,689,005.70. Following the sale, the chief executive officer now directly owns 2,558,425 shares in the company, valued at $27,375,147.50. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian Busse sold 21,367 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $221,575.79. Following the completion of the transaction, the general counsel now 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. Insiders have sold a total of 642,652 shares of company stock worth $6,774,031 in the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Trading of Arlo Technologies

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company's stock valued at $2,244,000 after buying an additional 129,889 shares during the period. KBC Group NV lifted its holdings in 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 acquired a new stake in Arlo Technologies in the 4th quarter valued at about $154,000. Rhumbline Advisers boosted its position 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 purchasing an additional 6,101 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Arlo Technologies by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 489,270 shares of the company's stock worth $5,475,000 after purchasing an additional 16,211 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

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.