Arlo Technologies (NYSE:ARLO) Given Buy Rating at BWS Financial

BWS Financial reiterated their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report released on Friday morning,Benzinga reports. The firm currently has a $24.00 price objective on the stock.

Separately, Craig Hallum increased their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday.

Arlo Technologies Trading Up 20.2 %

NYSE:ARLO opened at $14.33 on Friday. The company has a 50-day moving average of $11.57 and a 200-day moving average of $11.66. Arlo Technologies has a twelve month low of $9.92 and a twelve month high of $17.64. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -57.30 and a beta of 1.77.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the transaction, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 27,588 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now directly owns 611,465 shares in the company, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 488,565 shares of company stock worth $5,629,360 over the last three months. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in Arlo Technologies by 15.4% during the 3rd quarter. Raymond James & Associates now owns 415,506 shares of the company’s stock valued at $5,032,000 after purchasing an additional 55,580 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Arlo Technologies by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 136,344 shares of the company’s stock valued at $1,651,000 after buying an additional 2,774 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock worth $49,281,000 after purchasing an additional 191,536 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Arlo Technologies by 13.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,181 shares of the company’s stock worth $257,000 after buying an additional 2,520 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Arlo Technologies in the third quarter worth about $251,000. 83.18% of the stock is owned by institutional investors and hedge funds.

About Arlo Technologies

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.