Arlo Technologies (NYSE:ARLO) Director Ralph Faison Buys 8,250 Shares of Stock

Key Points

• Director Ralph Faison bought 8,250 Arlo shares at an average of $12.17, spending about $100,403 and increasing his holdings to 419,300 shares.
• Arlo’s latest quarterly results beat expectations: earnings were $0.24 per share versus a $0.20 consensus, and revenue of $149.18 million was up 6.9% year over year.
• Analysts have a consensus Moderate Buy rating and a $21.33 price target; shares traded at $12.31 on Tuesday, up 1.4%.

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) Director Ralph Faison purchased 8,250 shares of the business's stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $12.17 per share, for a total transaction of $100,402.50. Following the completion of the acquisition, the director owned 419,300 shares of the company's stock, valued at approximately $5,102,881. This represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Arlo Technologies Stock Up 1.4%

Shares of NYSE:ARLO traded up $0.17 during mid-day trading on Tuesday, reaching $12.31. 1,266,311 shares of the stock were exchanged, compared to its average volume of 1,441,426. Arlo Technologies, Inc. has a one year low of $11.05 and a one year high of $16.89. The stock's 50 day simple moving average is $13.04 and its 200-day simple moving average is $13.38. The company has a market cap of $1.34 billion, a P/E ratio of 55.74 and a beta of 1.59.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. Arlo Technologies had a net margin of 5.20% and a return on equity of 17.29%. The company had revenue of $149.18 million during the quarter, compared to analysts' expectations of $144.93 million. During the same period last year, the business earned $0.16 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Arlo Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ARLO. Wall Street Zen cut Arlo Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 31st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Arlo Technologies in a research report on Friday, October 30th. Piper Sandler reiterated an "overweight" rating and set a $17.00 price objective (up from $16.00) on shares of Arlo Technologies in a research note on Friday. Finally, Lake Street Capital raised their target price on Arlo Technologies from $25.00 to $26.00 and gave the company a "buy" rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Arlo Technologies in the second quarter valued at approximately $235,992,000. Wasatch Advisors LP increased its holdings in Arlo Technologies by 9.0% in the second quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company's stock worth $79,747,000 after purchasing an additional 489,668 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in Arlo Technologies by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 3,659,888 shares of the company's stock valued at $52,080,000 after buying an additional 83,276 shares during the period. Jupiter Topco LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at $34,557,000. Finally, Primecap Management Co. CA acquired a new position in shares of Arlo Technologies during the second quarter valued at about $26,183,000. 83.18% of the stock is owned by institutional investors.

About Arlo Technologies

Arlo Technologies develops and sells connected home security products and services. Its offerings include indoor and outdoor security cameras, video doorbells, floodlight cameras and related smart-home devices, which let users monitor their properties through a mobile app. The company also offers subscription services, including cloud video storage, enhanced security features and professional monitoring. Arlo's products and services are available in markets including North America, Europe and Australia.

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