Kurtis Joseph Binder Sells 25,000 Shares of Arlo Technologies (NYSE:ARLO) Stock

Key Points

• CFO Kurtis Joseph Binder sold 25,000 Arlo shares on April 17 at an average price of $15.19 for proceeds of $379,750, leaving him with 564,885 shares (a 4.24% reduction); the sale was executed under a pre‑arranged Rule 10b5‑1 trading plan.
• Binder has been a consistent seller this quarter, including a large sale of 179,419 shares on March 12 for about $2.47 million, signaling significant insider selling activity.
• Arlo stock traded around $14.85 (market cap ~$1.59B) after the company reported a quarter that beat EPS and revenue estimates with revenue up 16.2% YoY, and the board authorized a $50 million stock buyback; analysts have a consensus "Moderate Buy" rating with a $23.33 target.

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 25,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.19, for a total transaction of $379,750.00. Following the completion of the transaction, the chief financial officer directly owned 564,885 shares of the company's stock, valued at approximately $8,580,603.15. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kurtis Joseph Binder also recently made the following trade(s):

• On Monday, April 6th, Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00.
• On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The shares were sold at an average price of $13.78, for a total transaction of $2,472,393.82.
• On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The shares were sold at an average price of $15.11, for a total transaction of $146,038.15.
• On Tuesday, March 3rd, Kurtis Joseph Binder sold 12,539 shares of Arlo Technologies stock. The shares were sold at an average price of $14.93, for a total transaction of $187,207.27.

Arlo Technologies Stock Down 0.8%

Shares of ARLO stock traded down $0.12 during trading hours on Tuesday, hitting $14.85. 962,869 shares of the company's stock traded hands, compared to its average volume of 1,391,395. The stock's 50 day simple moving average is $13.57 and its 200 day simple moving average is $14.46. The stock has a market cap of $1.59 billion, a PE ratio of 114.25 and a beta of 1.71. Arlo Technologies, Inc. has a 12 month low of $9.05 and a 12 month high of $19.94.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $141.30 million during the quarter, compared to the consensus estimate of $135.57 million. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The company's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that Arlo Technologies, Inc. will post 0.16 EPS for the current fiscal year.

Arlo Technologies declared that its board has initiated a stock buyback plan on Wednesday, March 4th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARLO. Zacks Research cut shares of Arlo Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Weiss Ratings upgraded shares of Arlo Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Arlo Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently modified their holdings of ARLO. Brandes Investment Partners LP increased its position in shares of Arlo Technologies by 27.6% during the fourth quarter. Brandes Investment Partners LP now owns 8,198,707 shares of the company's stock worth $114,700,000 after buying an additional 1,772,063 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Arlo Technologies by 778.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company's stock worth $31,944,000 after buying an additional 1,670,156 shares during the period. Wasatch Advisors LP increased its position in shares of Arlo Technologies by 30.1% during the second quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company's stock worth $79,354,000 after buying an additional 1,082,443 shares during the period. Marshall Wace LLP grew its holdings in Arlo Technologies by 69.1% in the third quarter. Marshall Wace LLP now owns 2,554,457 shares of the company's stock worth $43,298,000 after purchasing an additional 1,043,854 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Arlo Technologies by 115.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company's stock worth $15,325,000 after purchasing an additional 830,770 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.

About Arlo Technologies

Arlo Technologies, Inc NYSE: ARLO is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.

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