Arlo Technologies (NYSE:ARLO) General Counsel Sells $105,618.45 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 8,245 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $12.81, for a total transaction of $105,618.45. Following the sale, the general counsel owned 542,769 shares of the company’s stock, valued at approximately $6,952,870.89. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Brian Busse also recently made the following trade(s):

• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The shares were sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Stock Down 5.3%

Arlo Technologies stock opened at $12.06 on Friday. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $19.94. The stock has a market cap of $1.28 billion, a P/E ratio of 402.17 and a beta of 1.66. The company’s fifty day simple moving average is $13.73 and its 200-day simple moving average is $15.80.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business had revenue of $139.53 million during the quarter, compared to analyst estimates of $138.69 million. During the same period last year, the company earned $0.11 earnings per share. Arlo Technologies’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARLO has been the subject of several recent analyst reports. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Finally, BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Arlo Technologies in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its position in shares of Arlo Technologies by 2.4% during the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company’s stock worth $496,000 after buying an additional 692 shares during the period. Arizona State Retirement System boosted its stake in Arlo Technologies by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 30,597 shares of the company’s stock worth $519,000 after acquiring an additional 702 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Arlo Technologies by 86.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock valued at $28,000 after purchasing an additional 747 shares during the period. Quarry LP increased its stake in Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after purchasing an additional 783 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Arlo Technologies by 3.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.