Arlo Technologies' (ARLO) "Buy" Rating Reaffirmed at BWS Financial

Arlo Technologies (NYSE:ARLO - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at BWS Financial in a research report issued on Wednesday, Benzinga reports. They currently have a $17.00 price target on the stock. BWS Financial's price objective points to a potential upside of 54.13% from the stock's current price.

Arlo Technologies Price Performance

Shares of ARLO stock traded up $0.10 during trading hours on Wednesday, reaching $11.03. 1,070,997 shares of the stock were exchanged, compared to its average volume of 979,164. The business's fifty day moving average is $11.13 and its two-hundred day moving average is $9.78. Arlo Technologies has a 12-month low of $6.18 and a 12-month high of $13.34. The firm has a market capitalization of $1.06 billion, a P/E ratio of -45.96 and a beta of 1.86.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $135.09 million for the quarter, compared to analyst estimates of $135.05 million. As a group, equities research analysts predict that Arlo Technologies will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total transaction of $289,280.00. Following the sale, the director now owns 127,012 shares of the company's stock, valued at $1,148,188.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total transaction of $289,280.00. Following the sale, the director now owns 127,012 shares of the company's stock, valued at $1,148,188.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurtis Joseph Binder sold 99,038 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the sale, the chief financial officer now directly owns 720,800 shares in the company, valued at approximately $7,878,344. The disclosure for this sale can be found here. Insiders have sold 362,386 shares of company stock worth $3,947,459 over the last three months. Insiders own 2.90% of the company's stock.

Institutional Trading of Arlo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Arlo Technologies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company's stock valued at $90,977,000 after acquiring an additional 51,623 shares during the period. Primecap Management Co. CA increased its holdings in shares of Arlo Technologies by 3.1% in the 4th quarter. Primecap Management Co. CA now owns 4,876,641 shares of the company's stock valued at $46,426,000 after acquiring an additional 147,341 shares during the period. Brandes Investment Partners LP increased its holdings in shares of Arlo Technologies by 8.4% in the 4th quarter. Brandes Investment Partners LP now owns 4,499,968 shares of the company's stock valued at $42,840,000 after acquiring an additional 349,082 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of Arlo Technologies by 11.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 4,061,255 shares of the company's stock valued at $51,375,000 after acquiring an additional 421,708 shares during the period. Finally, Cannell Capital LLC grew its position in Arlo Technologies by 6.8% in the 4th quarter. Cannell Capital LLC now owns 2,480,703 shares of the company's stock valued at $23,616,000 after buying an additional 158,580 shares during the last quarter. 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.