Arlo Technologies (NYSE:ARLO) Given “Buy” Rating at BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reaffirmed by research analysts at BWS Financial in a report released on Friday, Benzinga reports. They presently have a $17.00 target price on the stock. BWS Financial’s price target would indicate a potential upside of 40.61% from the company’s current price.

Arlo Technologies Price Performance

Shares of ARLO stock traded down $1.84 on Friday, hitting $12.09. 1,503,055 shares of the stock traded hands, compared to its average volume of 1,005,332. Arlo Technologies has a 52 week low of $7.01 and a 52 week high of $14.27. The firm has a 50 day simple moving average of $11.92 and a two-hundred day simple moving average of $10.07. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -52.83 and a beta of 1.87.

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

Insider Activity at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 99,038 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total value of $1,082,485.34. Following the completion of the sale, the chief financial officer now directly owns 720,800 shares in the company, valued at $7,878,344. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Kurtis Joseph Binder sold 99,038 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.93, for a total value of $1,082,485.34. Following the transaction, the chief financial officer now directly owns 720,800 shares in the company, valued at $7,878,344. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Brian Busse sold 56,973 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were 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 directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,386 shares of company stock valued at $3,658,179. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARLO. Jupiter Asset Management Ltd. purchased a new stake in shares of Arlo Technologies during the first quarter worth about $885,000. Lord Abbett & CO. LLC purchased a new stake in Arlo Technologies during the 1st quarter worth approximately $8,282,000. ProShare Advisors LLC increased its stake in Arlo Technologies by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock valued at $230,000 after purchasing an additional 1,241 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Arlo Technologies during the first quarter worth $873,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Arlo Technologies by 644.1% during the first quarter. Susquehanna Fundamental Investments LLC now owns 155,488 shares of the company’s stock valued at $1,967,000 after buying an additional 134,591 shares during the last quarter. 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.