Arlo Technologies (NYSE:ARLO) Stock Rating Reaffirmed by BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reaffirmed by equities researchers at BWS Financial in a report issued on Wednesday, Benzinga reports. They presently have a $17.00 price target on the stock. BWS Financial’s target price points to a potential upside of 51.72% from the stock’s current price.

Arlo Technologies Stock Up 1.6 %

Shares of ARLO stock opened at $11.21 on Wednesday. Arlo Technologies has a fifty-two week low of $6.19 and a fifty-two week high of $13.34. The stock has a market cap of $1.08 billion, a P/E ratio of -46.69 and a beta of 1.86. The business has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $9.79.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. On average, sell-side analysts anticipate that Arlo Technologies will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the completion of the sale, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the completion of the sale, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the completion of the sale, the general counsel now owns 604,905 shares of the company’s stock, valued at approximately $7,065,290.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 362,386 shares of company stock worth $3,947,459. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARLO. Assenagon Asset Management S.A. grew its holdings in Arlo Technologies by 328.4% in the 3rd 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 Arlo Technologies by 29.4% in the 3rd quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock valued at $42,754,000 after buying an additional 943,089 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Arlo Technologies by 229.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock valued at $9,161,000 after buying an additional 619,049 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in Arlo Technologies in the 4th quarter valued at about $5,314,000. Finally, Vanguard Group Inc. grew its holdings in Arlo Technologies by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock valued at $97,900,000 after buying an additional 451,236 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Company Profile

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.