Arlo Technologies (NYSE:ARLO) Stock: Insider Ralph Faison Buys 8,250 Shares

Arlo Technologies, Inc. (NYSE:ARLO) Director Ralph Faison acquired 8,250 shares of the company’s stock in a transaction on Monday, November 9th. The shares were bought at an average price of $12.17 per share, for a total transaction of $100,402.50. Following the completion of the purchase, the director owned 419,300 shares in the company, valued at approximately $5,102,881. This represents a 2.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Arlo Technologies Trading Up 1.4%

Shares of ARLO traded up $0.17 on Tuesday, reaching $12.31. 1,266,311 shares of the company’s stock traded hands, compared to its average volume of 1,441,426. The stock’s 50 day simple moving average is $13.04 and its two-hundred day simple moving average is $13.38. Arlo Technologies, Inc. has a 52-week low of $11.05 and a 52-week high of $16.89. The stock has a market cap of $1.34 billion, a PE ratio of 55.74 and a beta of 1.59.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Arlo Technologies had a net margin of 5.20% and a return on equity of 17.29%. The company had revenue of $149.18 million during the quarter, compared to analyst estimates of $144.93 million. During the same quarter last year, the business posted $0.16 EPS. Arlo Technologies’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Arlo Technologies, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARLO shares. Lake Street Capital increased their price target on shares of Arlo Technologies from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Friday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $17.00 target price (up from $16.00) on shares of Arlo Technologies in a research report on Friday. Finally, Wall Street Zen cut Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Arlo Technologies has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Institutional Trading of Arlo Technologies

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Arlo Technologies during the second quarter valued at about $235,992,000. Wasatch Advisors LP grew its holdings in Arlo Technologies by 9.0% in the 2nd 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 last quarter. Rice Hall James & Associates LLC grew its holdings in Arlo Technologies by 2.3% in the 1st 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 last quarter. Jupiter Topco LLC purchased a new position in shares of Arlo Technologies in the second quarter valued at about $34,557,000. Finally, Primecap Management Co. CA purchased a new position in shares of Arlo Technologies in the second quarter valued at about $26,183,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile

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.