Arlo Technologies (NYSE:ARLO) Shares Down 3.7%

Arlo Technologies, Inc. (NYSE:ARLO)’s share price traded down 3.7% during trading on Tuesday . The company traded as low as $11.57 and last traded at $11.61. 581,184 shares traded hands during trading, a decline of 43% from the average session volume of 1,022,792 shares. The stock had previously closed at $12.05.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, August 9th. Craig Hallum upped their target price on Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Roth Mkm upped their target price on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Arlo Technologies Trading Up 2.0 %

The business has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $12.31. The stock has a market cap of $1.19 billion, a P/E ratio of -67.50 and a beta of 1.83.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. The firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts expect that Arlo Technologies, Inc. will post -0.33 earnings per share for the current year.

Insider Activity at Arlo Technologies

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

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently modified their holdings of ARLO. Allspring Global Investments Holdings LLC raised its stake in shares of Arlo Technologies by 136.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 58,929 shares of the company’s stock worth $561,000 after purchasing an additional 33,984 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Arlo Technologies during the fourth quarter valued at approximately $450,000. Strs Ohio increased its position in shares of Arlo Technologies by 7.3% during the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock valued at $182,000 after acquiring an additional 1,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Arlo Technologies by 24.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,725 shares of the company’s stock valued at $216,000 after acquiring an additional 4,398 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Arlo Technologies by 6.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 55,112 shares of the company’s stock valued at $525,000 after acquiring an additional 3,143 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.