Arlo Technologies (NYSE:ARLO) Trading Down 1.9%

Shares of Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) dropped 1.9% during trading on Monday . The company traded as low as $11.18 and last traded at $11.22. Approximately 132,126 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,017,092 shares. The stock had previously closed at $11.44.

Wall Street Analyst Weigh In

ARLO has been the topic of several recent analyst reports. Craig Hallum lifted their price objective on shares of Arlo Technologies from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday. BWS Financial reissued a "buy" rating and set a $17.00 price target on shares of Arlo Technologies in a research report on Friday. Finally, Roth Mkm upped their price objective on shares of Arlo Technologies from $13.75 to $16.50 and gave the company a "buy" rating in a research report on Friday.

Arlo Technologies Price Performance

The stock has a market cap of $1.10 billion, a P/E ratio of -62.69 and a beta of 1.87. The stock's 50 day simple moving average is $11.91 and its two-hundred day simple moving average is $10.13.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million for the quarter, compared to analyst estimates of $135.05 million. Arlo Technologies had a negative net margin of 3.46% and a negative return on equity of 16.71%. As a group, analysts forecast that Arlo Technologies, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Arlo Technologies

In other news, General Counsel Brian Busse sold 42,161 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total transaction of $462,506.17. Following the completion of the transaction, the general counsel now directly owns 661,878 shares of the company's stock, valued at approximately $7,260,801.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 132,214 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total value of $1,447,743.30. Following the transaction, the chief executive officer now directly owns 2,314,950 shares of the company's stock, valued at approximately $25,348,702.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Brian Busse sold 42,161 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total transaction of $462,506.17. Following the transaction, the general counsel now directly owns 661,878 shares in the company, valued at $7,260,801.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 330,386 shares of company stock valued at $3,658,179. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARLO. Assenagon Asset Management S.A. boosted its stake in shares of Arlo Technologies by 328.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,534,778 shares of the company's stock valued at $15,808,000 after buying an additional 1,176,530 shares during the period. Brandes Investment Partners LP grew its holdings in shares of Arlo Technologies by 29.4% during the 3rd quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company's stock worth $42,754,000 after purchasing an additional 943,089 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Arlo Technologies in the first quarter worth $8,282,000. Charles Schwab Investment Management Inc. increased its position in shares of Arlo Technologies by 229.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company's stock worth $9,161,000 after purchasing an additional 619,049 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Arlo Technologies in the fourth quarter valued at about $5,314,000. Institutional investors and hedge funds own 83.18% of the company's stock.

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.