Arlo Technologies (NYSE:ARLO) Receives “Buy” Rating from BWS Financial

BWS Financial restated their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $24.00 target price on the stock.

Other research analysts have also issued research reports about the company. Craig Hallum lowered their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday. Roth Mkm raised their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

Arlo Technologies Stock Down 2.0 %

ARLO stock traded down $0.24 during mid-day trading on Friday, hitting $11.92. The stock had a trading volume of 4,004,583 shares, compared to its average volume of 956,325. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a fifty day moving average of $11.36 and a 200 day moving average of $12.68. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -54.18 and a beta of 1.78.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Arlo Technologies will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its stake in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the period. Chilton Capital Management LLC acquired a new stake in shares of Arlo Technologies during the second quarter worth $33,000. GAMMA Investing LLC grew its stake in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares during the period. CWM LLC lifted its holdings in Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after acquiring an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Arlo Technologies during the second quarter worth about $62,000. 83.18% of the stock is 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.