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

BWS Financial reissued their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report released on Friday,Benzinga reports. They currently have a $24.00 target price on the stock.

ARLO has been the topic of a number of other reports. Roth Mkm boosted their price target 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. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday.

Arlo Technologies Trading Down 2.0 %

ARLO traded down $0.24 on Friday, hitting $11.92. The company had a trading volume of 4,004,583 shares, compared to its average volume of 956,325. The firm has a market cap of $1.19 billion, a P/E ratio of -54.18 and a beta of 1.78. Arlo Technologies has a 1 year low of $7.77 and a 1 year high of $17.64. The company’s fifty day moving average price is $11.36 and its 200 day moving average price is $12.68. 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 (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. Arlo Technologies’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, equities analysts expect that Arlo Technologies will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the transaction, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ralph E. Faison acquired 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the transaction, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ARLO. Quest Partners LLC raised its position in shares of Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after acquiring an additional 1,882 shares in the last quarter. Chilton Capital Management LLC bought a new position in Arlo Technologies during the 2nd quarter worth $33,000. GAMMA Investing LLC grew its stake in Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after buying an additional 840 shares during the last quarter. CWM LLC grew its stake in shares of Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Arlo Technologies in the second quarter worth $62,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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.