Arlo Technologies (NYSE:ARLO) Director Purchases $100,402.50 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) Director Ralph Faison acquired 8,250 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $12.17 per share, with a total value of $100,402.50. Following the transaction, the director owned 419,300 shares in the company, valued at approximately $5,102,881. The trade was a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arlo Technologies Trading Down 3.7%

NYSE:ARLO opened at $11.84 on Friday. The stock has a 50 day moving average of $12.99 and a 200-day moving average of $13.36. The firm has a market capitalization of $1.27 billion, a PE ratio of 55.86 and a beta of 1.59. Arlo Technologies, Inc. has a 52 week low of $11.05 and a 52 week high of $16.89.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Arlo Technologies had a return on equity of 16.08% and a net margin of 4.11%. The firm had revenue of $149.18 million during the quarter, compared to the consensus estimate of $144.93 million. During the same period in the prior year, the business earned $0.16 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Arlo Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Arlo Technologies in the 2nd quarter worth $235,992,000. Wasatch Advisors LP grew its holdings in Arlo Technologies by 9.0% during the second quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock worth $79,747,000 after acquiring an additional 489,668 shares during the period. Rice Hall James & Associates LLC grew its holdings in Arlo Technologies by 2.3% during the first quarter. Rice Hall James & Associates LLC now owns 3,659,888 shares of the company’s stock worth $52,080,000 after acquiring an additional 83,276 shares during the period. Jupiter Topco LLC bought a new stake in Arlo Technologies in the second quarter worth about $34,557,000. Finally, Primecap Management Co. CA acquired a new stake in Arlo Technologies in the 2nd quarter valued at about $26,183,000. 83.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARLO has been the topic of a number of recent analyst reports. Wall Street Zen cut Arlo Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $17.00 price objective (up from $16.00) on shares of Arlo Technologies in a report on Friday, November 6th. Lake Street Capital raised their target price on Arlo Technologies from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a research note on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

About Arlo Technologies

Arlo Technologies develops and sells connected home security products and services. Its offerings include indoor and outdoor security cameras, video doorbells, floodlight cameras and related smart-home devices, which let users monitor their properties through a mobile app. The company also offers subscription services, including cloud video storage, enhanced security features and professional monitoring. Arlo’s products and services are available in markets including North America, Europe and Australia.