Arlo Technologies (NYSE:ARLO) Sees Strong Trading Volume Following Analyst Upgrade

Arlo Technologies, Inc. (NYSE:ARLO) saw strong trading volume on Monday after Craig Hallum raised their price target on the stock from $15.00 to $17.00. Craig Hallum currently has a buy rating on the stock. 573,586 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 766,187 shares.The stock last traded at $13.82 and had previously closed at $14.38.

Separately, BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Insider Buying and Selling at Arlo Technologies

In other news, General Counsel Brian Busse sold 9,007 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was 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 directly owns 602,458 shares of the company’s stock, valued at $7,024,660.28. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total value of $677,981.88. Following the sale, the chief executive officer now directly owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 144,333 shares of company stock worth $1,656,923. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently bought and sold shares of the company. Emerald Advisers LLC boosted its holdings in shares of Arlo Technologies by 116.9% during the fourth 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 boosted its stake in Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after buying an additional 790,549 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Arlo Technologies in the 4th quarter valued at about $4,586,000. Westwood Holdings Group Inc. increased its stake in shares of Arlo Technologies by 38.4% during 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 during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in shares of 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 acquiring an additional 375,903 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Price Performance

The company’s 50-day moving average is $11.63 and its 200-day moving average is $11.68. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -48.60 and a beta of 1.77.

Arlo Technologies Company Profile

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.