Arlo Technologies (ARLO) Sets New 1-Year Low at $13.91

Shares of Arlo Technologies Inc (NYSE:ARLO) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.91 and last traded at $14.05, with a volume of 23225 shares. The stock had previously closed at $14.51.

Several analysts recently weighed in on the company. Guggenheim upgraded Arlo Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, August 30th. They noted that the move was a valuation call. Cowen assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set an “outperform” rating and a $28.00 price target on the stock. Raymond James assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “market perform” rating on the stock. Bank of America assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Deutsche Bank assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “buy” rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.00.

In related news, CFO Christine Marie Gorjanc purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $16.00 per share, for a total transaction of $80,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Cs Lo purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $16.00 per share, for a total transaction of $400,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 32,500 shares of company stock worth $520,000 in the last 90 days.

Arlo Technologies Company Profile (NYSE:ARLO)

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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