Arlo Technologies (NYSE:ARLO) Shares Gap Down – What’s Next?

Arlo Technologies, Inc. (NYSE:ARLO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.04, but opened at $10.72. Arlo Technologies shares last traded at $10.59, with a volume of 776,233 shares.

Analyst Upgrades and Downgrades

ARLO has been the subject of a number of recent analyst reports. Craig Hallum raised their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Stock Down 4.1 %

The company’s fifty day moving average is $11.63 and its 200 day moving average is $11.61. The stock has a market cap of $1.08 billion, a PE ratio of -42.30 and a beta of 1.66.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 259,227 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the completion of the sale, the chief executive officer now directly owns 2,945,905 shares of the company’s stock, valued at approximately $35,439,237.15. This represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the transaction, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 648,743 shares of company stock worth $7,503,028. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Emerald Advisers LLC grew its position in Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after purchasing an additional 898,167 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after acquiring an additional 790,549 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Arlo Technologies during the fourth quarter worth $4,586,000. Westwood Holdings Group Inc. increased its position in Arlo Technologies by 38.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock valued at $16,503,000 after acquiring an additional 409,489 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after buying an additional 375,903 shares in 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.