BWS Financial Reaffirms Buy Rating for Arlo Technologies (NYSE:ARLO)

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

Arlo Technologies Stock Down 13.2 %

ARLO stock traded down $1.84 during midday trading on Friday, reaching $12.09. The company had a trading volume of 1,503,055 shares, compared to its average volume of 1,005,332. Arlo Technologies has a fifty-two week low of $7.01 and a fifty-two week high of $14.27. The firm has a market capitalization of $1.17 billion, a PE ratio of -52.83 and a beta of 1.87. The stock has a 50 day moving average price of $11.92 and a 200 day moving average price of $10.07.

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

Insider Activity

In other news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total value of $665,444.64. Following the sale, the general counsel now directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 132,214 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the sale, the chief executive officer now directly owns 2,314,950 shares of the company’s stock, valued at $25,348,702.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 56,973 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total value of $665,444.64. Following the transaction, the general counsel now 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 90 days, insiders have sold 330,386 shares of company stock worth $3,658,179. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Arlo Technologies during the 3rd quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Arlo Technologies in the 1st quarter valued at $190,000. Victory Capital Management Inc. increased its holdings in Arlo Technologies by 9.7% during the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after purchasing an additional 1,378 shares in the last quarter. Strs Ohio raised its stake in shares of Arlo Technologies by 203.4% in the 3rd quarter. Strs Ohio now owns 17,900 shares of the company’s stock valued at $184,000 after purchasing an additional 12,000 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Arlo Technologies in the third quarter valued at about $184,000. 83.18% of the stock is owned by 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.