Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 21,367 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 21,367 shares of Arlo Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $221,575.79. Following the sale, the general counsel now directly owns 656,785 shares in the company, valued at approximately $6,810,860.45. The trade was a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Brian Busse also recently made the following trade(s):

• On Thursday, March 20th, Brian Busse sold 26,258 shares of Arlo Technologies stock. The stock was sold at an average price of $10.70, for a total value of $280,960.60.
• On Tuesday, March 4th, Brian Busse sold 6,593 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total value of $75,819.50.
• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59.

Arlo Technologies Stock Performance

Shares of ARLO opened at $12.43 on Friday. The company’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $11.12. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64. The stock has a market capitalization of $1.29 billion, a PE ratio of -49.72 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. On average, sell-side analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently bought and sold shares of ARLO. Vanguard Group Inc. boosted its stake in shares of Arlo Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company’s stock valued at $98,244,000 after buying an additional 132,350 shares during the period. Brandes Investment Partners LP raised its holdings in Arlo Technologies by 7.0% in the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after acquiring an additional 375,903 shares in the last quarter. Wasatch Advisors LP lifted its stake in Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after acquiring an additional 790,549 shares during the last quarter. Geode Capital Management LLC grew its holdings in Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock worth $24,838,000 after acquiring an additional 26,803 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Arlo Technologies by 11.7% in the 4th quarter. Northern Trust Corp now owns 1,711,116 shares of the company’s stock valued at $19,147,000 after purchasing an additional 179,288 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARLO. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Thursday, April 24th.

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.