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

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reiterated by research analysts at BWS Financial in a report issued on Wednesday, Benzinga reports. They currently have a $17.00 price target on the stock. BWS Financial’s price target would suggest a potential upside of 54.83% from the company’s current price.

Arlo Technologies Trading Up 0.5 %

ARLO traded up $0.05 on Wednesday, hitting $10.98. 593,366 shares of the company’s stock were exchanged, compared to its average volume of 972,898. Arlo Technologies has a fifty-two week low of $6.18 and a fifty-two week high of $13.34. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -45.71 and a beta of 1.86. The firm has a 50-day moving average price of $11.08 and a 200-day moving average price of $9.77.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $135.09 million during the quarter, compared to analyst estimates of $135.05 million. On average, equities analysts predict that Arlo Technologies will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total transaction 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 $7,065,290.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies stock in a transaction on Wednesday, March 13th. The stock was 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 directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Miller Joycelyn Carter sold 32,000 shares of Arlo Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the sale, the director now directly owns 127,012 shares of the company’s stock, valued at $1,148,188.48. The disclosure for this sale can be found here. Insiders sold a total of 362,386 shares of company stock valued at $3,947,459 over the last quarter. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARLO. Acadian Asset Management LLC purchased a new stake in Arlo Technologies during the 3rd quarter worth about $38,000. Victory Capital Management Inc. lifted its holdings in Arlo Technologies by 9.7% during the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after buying an additional 1,378 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Arlo Technologies by 51.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock worth $170,000 after buying an additional 5,561 shares during the last quarter. Strs Ohio lifted its holdings in Arlo Technologies by 7.3% during the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Arlo Technologies during the 3rd quarter worth about $184,000. 83.18% of the stock is currently 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.