Arlo Technologies, Inc. (NYSE:ARLO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Arlo Technologies, Inc. (NYSE:ARLO) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several research analysts have commented on the stock. BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Arlo Technologies in a report on Tuesday, November 11th. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th.

Insider Buying and Selling

In related news, CEO Matthew Blake Mcrae sold 257,242 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.28, for a total value of $3,673,415.76. Following the transaction, the chief executive officer owned 941,586 shares of the company’s stock, valued at $13,445,848.08. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.69, for a total value of $753,538.67. Following the sale, the chief financial officer owned 460,970 shares in the company, valued at $6,310,679.30. The trade was a 10.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 614,463 shares of company stock worth $8,626,966. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ARLO. Smartleaf Asset Management LLC grew its position 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 acquiring an additional 747 shares during the last quarter. Quarry LP lifted its stake in Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after purchasing an additional 783 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Arlo Technologies by 161.4% in the second quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after purchasing an additional 1,988 shares during the last quarter. Strs Ohio purchased a new stake in Arlo Technologies during the first quarter valued at about $66,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Arlo Technologies during the third quarter valued at about $86,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Trading Down 2.7%

Shares of Arlo Technologies stock opened at $12.39 on Thursday. The company’s 50-day moving average price is $13.77 and its 200-day moving average price is $15.82. Arlo Technologies has a 12-month low of $7.84 and a 12-month high of $19.94. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 410.97 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Arlo Technologies had a net margin of 0.84% and a return on equity of 2.00%. The company had revenue of $139.53 million during the quarter, compared to analysts’ expectations of $138.69 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. Arlo Technologies’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Arlo Technologies will post -0.29 earnings per share for the current year.

Arlo Technologies Company Profile

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.