Roth Mkm Boosts Arlo Technologies (NYSE:ARLO) Price Target to $16.50

Arlo Technologies (NYSE:ARLO) had its price target lifted by analysts at Roth Mkm from $13.75 to $16.50 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 36.48% from the company’s previous close.

Separately, BWS Financial reaffirmed a “buy” rating and set a $17.00 target price on shares of Arlo Technologies in a research note on Friday.

Arlo Technologies Price Performance

Shares of NYSE ARLO traded down $1.84 during midday trading on Friday, hitting $12.09. 1,503,055 shares of the company’s stock were exchanged, compared to its average volume of 1,005,332. The stock’s 50 day moving average price is $11.92 and its 200-day moving average price is $10.07. The firm has a market cap of $1.17 billion, a P/E ratio of -52.83 and a beta of 1.87. Arlo Technologies has a twelve month low of $7.01 and a twelve month high of $14.27.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, February 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $135.09 million for 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%. On average, analysts expect that Arlo Technologies will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In other news, General Counsel Brian Busse sold 56,973 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Brian Busse sold 56,973 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total transaction of $665,444.64. Following the completion of the transaction, the general counsel now directly owns 604,905 shares in the company, valued at $7,065,290.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 330,386 shares of company stock worth $3,658,179 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds have recently modified their holdings of ARLO. Charles Schwab Investment Management Inc. lifted its position in Arlo Technologies by 229.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock worth $9,161,000 after buying an additional 619,049 shares in the last quarter. Vanguard Group Inc. boosted its position in Arlo Technologies by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock valued at $97,900,000 after buying an additional 451,236 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Arlo Technologies by 29.4% during the third quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock worth $42,754,000 after acquiring an additional 943,089 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Arlo Technologies by 119.1% in the third quarter. GSA Capital Partners LLP now owns 175,289 shares of the company’s stock valued at $1,805,000 after acquiring an additional 95,275 shares during the last quarter. Finally, Cannell Capital LLC raised its holdings in Arlo Technologies by 7.5% during the 3rd quarter. Cannell Capital LLC now owns 2,322,123 shares of the company’s stock worth $23,918,000 after purchasing an additional 162,470 shares during the last quarter. 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.