Arlo Technologies (NYSE:ARLO) Shares Down 4.2%

Arlo Technologies, Inc. (NYSE:ARLO) shares fell 4.2% on Monday . The stock traded as low as $15.76 and last traded at $15.90. 407,754 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,018,819 shares. The stock had previously closed at $16.59.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARLO. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Tuesday, July 9th. Craig Hallum raised their price objective on shares of Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Roth Mkm upped their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday.

Arlo Technologies Stock Down 3.1 %

The company’s 50 day moving average is $13.68 and its 200 day moving average is $11.70. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -89.27 and a beta of 1.83.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. The business had revenue of $124.20 million for the quarter, compared to analyst estimates of $124.06 million. On average, analysts expect that Arlo Technologies, Inc. will post -0.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arlo Technologies news, Director Amy M. Rothstein sold 25,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $13.37, for a total transaction of $334,250.00. Following the completion of the sale, the director now directly owns 76,271 shares in the company, valued at $1,019,743.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares in the last quarter. CWM LLC grew its holdings in shares of Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. Strs Ohio grew its holdings in shares of Arlo Technologies by 7.3% during the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock valued at $182,000 after purchasing an additional 1,300 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Arlo Technologies by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock valued at $184,000 after purchasing an additional 3,671 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Arlo Technologies in the first quarter valued at approximately $190,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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.