Arlo Technologies (NYSE:ARLO) Sets New 52-Week High at $13.40

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $13.37, with a volume of 78003 shares traded. The stock had previously closed at $12.96.

Analysts Set New Price Targets

Separately, BWS Financial restated a "buy" rating and issued a $17.00 target price on shares of Arlo Technologies in a research note on Wednesday, April 24th.

Arlo Technologies Price Performance

The business's 50-day moving average price is $11.59 and its two-hundred day moving average price is $9.94. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -54.00 and a beta of 1.87.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. The business had revenue of $135.09 million during the quarter, compared to the consensus estimate of $135.05 million. As a group, research analysts predict that Arlo Technologies, Inc. will post -0.06 EPS for the current year.

Insider Transactions at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 99,038 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the transaction, the chief financial officer now directly owns 720,800 shares of the company's stock, valued at $7,878,344. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kurtis Joseph Binder sold 99,038 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total value of $1,082,485.34. Following the completion of the sale, the chief financial officer now directly owns 720,800 shares of the company's stock, valued at approximately $7,878,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.95, for a total value of $1,447,743.30. Following the completion of the transaction, the chief executive officer now owns 2,314,950 shares of the company's stock, valued at approximately $25,348,702.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 330,386 shares of company stock worth $3,658,179. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Arlo Technologies

A number of large investors have recently modified their holdings of ARLO. Acadian Asset Management LLC bought a new position in Arlo Technologies during the 3rd quarter worth approximately $38,000. Victory Capital Management Inc. grew its position in shares of Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company's stock worth $161,000 after buying an additional 1,378 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Arlo Technologies by 14.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company's stock worth $179,000 after buying an additional 2,311 shares during the last quarter. Strs Ohio grew its position in shares of Arlo Technologies by 7.3% in the 4th quarter. Strs Ohio now owns 19,200 shares of the company's stock worth $182,000 after buying an additional 1,300 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Arlo Technologies in the 3rd quarter worth approximately $184,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.