Arlo Technologies (NYSE:ARLO) Director Ralph Faison Acquires 8,250 Shares of Company Stock

Arlo Technologies, Inc. (NYSE:ARLO) Director Ralph Faison acquired 8,250 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was purchased at an average cost of $12.17 per share, with a total value of $100,402.50. Following the completion of the purchase, the director directly owned 419,300 shares of the company’s stock, valued at approximately $5,102,881. This represents a 2.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arlo Technologies Trading Up 1.5%

ARLO stock opened at $12.33 on Wednesday. The business’s fifty day moving average price is $13.02 and its 200 day moving average price is $13.37. Arlo Technologies, Inc. has a 12-month low of $11.05 and a 12-month high of $16.89. The company has a market capitalization of $1.33 billion, a PE ratio of 55.18 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a report on Friday, October 30th. Wall Street Zen downgraded shares of Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Lake Street Capital increased their target price on shares of Arlo Technologies from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $17.00 price target (up from $16.00) on shares of Arlo Technologies in a research report on Friday, November 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arlo Technologies currently has an average rating of “Moderate Buy” and an average price target of $20.40.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. purchased a new position in shares of Arlo Technologies in the 3rd quarter valued at about $2,626,000. Voya Investment Management LLC grew its position in shares of Arlo Technologies by 5.2% during the third quarter. Voya Investment Management LLC now owns 233,190 shares of the company’s stock worth $2,892,000 after buying an additional 11,590 shares in the last quarter. White Pine Capital LLC purchased a new stake in shares of Arlo Technologies during the third quarter worth approximately $2,693,000. Aberdeen Group plc purchased a new stake in shares of Arlo Technologies during the third quarter worth approximately $10,519,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Arlo Technologies by 75.7% during the third quarter. Russell Investments Group Ltd. now owns 115,935 shares of the company’s stock worth $1,438,000 after buying an additional 49,949 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.