BWS Financial Reiterates "Buy" Rating for Arlo Technologies (NYSE:ARLO)

Arlo Technologies (NYSE:ARLO - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BWS Financial in a note issued to investors on Friday, Benzinga reports. They presently have a $17.00 price objective on the stock. BWS Financial's target price suggests a potential upside of 48.60% from the stock's current price.

Arlo Technologies Price Performance

Shares of NYSE ARLO traded down $2.49 during mid-day trading on Friday, reaching $11.44. The company's stock had a trading volume of 3,355,866 shares, compared to its average volume of 1,027,562. The firm has a market capitalization of $1.11 billion, a PE ratio of -50.50 and a beta of 1.87. Arlo Technologies has a 52 week low of $7.01 and a 52 week high of $14.27. The stock has a fifty day moving average of $11.92 and a two-hundred day moving average of $10.07.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. The firm had revenue of $135.09 million for the quarter, compared to the consensus estimate of $135.05 million. Analysts anticipate that Arlo Technologies will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew Blake Mcrae sold 132,214 shares of the stock in a transaction that occurred 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 owns 2,314,950 shares of the company's stock, valued at $25,348,702.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Matthew Blake Mcrae sold 132,214 shares of the firm'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 completion of the transaction, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 99,038 shares of Arlo Technologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.93, for a total value of $1,082,485.34. Following the transaction, the chief financial officer now owns 720,800 shares of the company's stock, valued at approximately $7,878,344. The disclosure for this sale can be found here. Insiders have sold a total of 330,386 shares of company stock valued at $3,658,179 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Arlo Technologies during the 3rd quarter valued at approximately $38,000. SG Americas Securities LLC purchased a new stake in shares of Arlo Technologies during the first quarter worth $190,000. Victory Capital Management Inc. grew its stake in shares of Arlo Technologies by 9.7% during the third quarter. Victory Capital Management Inc. now owns 15,625 shares of the company's stock worth $161,000 after purchasing an additional 1,378 shares in the last quarter. Strs Ohio grew its stake in shares of Arlo Technologies by 203.4% during the third quarter. Strs Ohio now owns 17,900 shares of the company's stock worth $184,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Arlo Technologies during the third quarter worth $184,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.