Kurtis Joseph Binder Sells 7,098 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 7,098 shares of the business’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 sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $11.75 on Wednesday. The company has a market capitalization of $1.15 billion, a PE ratio of -65.28 and a beta of 1.76. The firm has a fifty day simple moving average of $12.53 and a 200-day simple moving average of $12.82. 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, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Arlo Technologies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company’s stock valued at $90,977,000 after purchasing an additional 51,623 shares during the period. Brandes Investment Partners LP boosted its stake in Arlo Technologies by 1.0% during the 2nd quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after acquiring an additional 53,242 shares during the last quarter. Cannell Capital LLC boosted its stake in Arlo Technologies by 6.8% during the 4th quarter. Cannell Capital LLC now owns 2,480,703 shares of the company’s stock valued at $23,616,000 after acquiring an additional 158,580 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Arlo Technologies by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after acquiring an additional 154,100 shares during the last quarter. Finally, Engle Capital Management L.P. boosted its stake in Arlo Technologies by 25.6% during the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after acquiring an additional 230,000 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARLO. Roth Mkm boosted their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, September 27th.

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.