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

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a note issued to investors on Friday, Benzinga reports. They presently have a $24.00 price target on the stock. BWS Financial’s price target points to a potential upside of 102.87% from the company’s previous close.

Separately, Roth Mkm upped their price target on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd.

Arlo Technologies Stock Down 1.2 %

Shares of Arlo Technologies stock opened at $11.83 on Friday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -65.72 and a beta of 1.76. The company’s 50 day moving average price is $12.61 and its 200-day moving average price is $12.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. Arlo Technologies has a 52-week low of $7.77 and a 52-week high of $17.64.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Arlo Technologies will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Ralph E. Faison acquired 8,842 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $11.89 per share, with a total value of $105,131.38. Following the purchase, the director now directly owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Amy M. Rothstein sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ralph E. Faison bought 8,842 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The disclosure for this purchase can be found here. 3.80% of the stock is owned by company insiders.

Institutional Trading of Arlo Technologies

Several hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in Arlo Technologies in the 2nd quarter worth $613,000. Brandes Investment Partners LP raised its position in Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after acquiring an additional 53,242 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Arlo Technologies by 11.1% in the second quarter. SkyView Investment Advisors LLC now owns 42,249 shares of the company’s stock worth $551,000 after acquiring an additional 4,235 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Arlo Technologies by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock valued at $469,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Arlo Technologies during the second quarter worth $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.