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

BWS Financial reiterated their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a report released on Wednesday morning, Benzinga reports. They currently have a $17.00 price objective on the stock.

Arlo Technologies Trading Up 5.2 %

Shares of NYSE ARLO opened at $11.80 on Wednesday. Arlo Technologies has a 12 month low of $6.24 and a 12 month high of $13.34. The company has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $9.80. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -49.15 and a beta of 1.86.

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

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of Arlo Technologies stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total transaction of $289,280.00. Following the completion of the sale, the director now directly owns 127,012 shares in the company, valued at approximately $1,148,188.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Miller Joycelyn Carter sold 32,000 shares of the business’s 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 transaction, the director now directly owns 127,012 shares in the company, valued at approximately $1,148,188.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 99,038 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the completion of the sale, the chief financial officer now directly owns 720,800 shares of the company’s stock, valued at approximately $7,878,344. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,386 shares of company stock worth $3,947,459. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of Arlo Technologies during the third quarter worth $38,000. Victory Capital Management Inc. grew its holdings in shares of Arlo Technologies by 9.7% during the third 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 in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Arlo Technologies by 51.0% during the third 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 in the last quarter. Strs Ohio grew its holdings in shares of Arlo Technologies by 7.3% during the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Arlo Technologies in the third quarter valued at about $184,000. Hedge funds and other institutional investors 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.