Arlo Technologies, Inc. (NYSE:ARLO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Arlo Technologies, Inc. (NYSE:ARLO) has been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $23.00.

A number of equities analysts have issued reports on the company. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Arlo Technologies in a report on Tuesday, November 11th. Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Monday, December 29th.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $12.39 on Thursday. Arlo Technologies has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The company has a 50 day simple moving average of $13.77 and a two-hundred day simple moving average of $15.82. The company has a market capitalization of $1.31 billion, a PE ratio of 410.97 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $139.53 million for the quarter, compared to analyst estimates of $138.69 million. Arlo Technologies had a net margin of 0.84% and a return on equity of 2.00%. Arlo Technologies’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. Research analysts predict that Arlo Technologies will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 55,043 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.69, for a total value of $753,538.67. Following the transaction, the chief financial officer owned 460,970 shares of the company’s stock, valued at approximately $6,310,679.30. This trade represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 257,242 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $14.28, for a total value of $3,673,415.76. Following the completion of the sale, the chief executive officer directly owned 941,586 shares of the company’s stock, valued at approximately $13,445,848.08. This trade represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 614,463 shares of company stock worth $8,626,966 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARLO. Voya Investment Management LLC grew its stake in Arlo Technologies by 160.2% in the 3rd quarter. Voya Investment Management LLC now owns 273,250 shares of the company’s stock valued at $4,632,000 after buying an additional 168,248 shares in the last quarter. S Squared Technology LLC lifted its position in shares of Arlo Technologies by 11.8% during the second quarter. S Squared Technology LLC now owns 519,767 shares of the company’s stock worth $8,815,000 after acquiring an additional 54,727 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Arlo Technologies in the second quarter worth $2,205,000. Hillsdale Investment Management Inc. grew its position in shares of Arlo Technologies by 31.9% in the second quarter. Hillsdale Investment Management Inc. now owns 338,082 shares of the company’s stock valued at $5,734,000 after purchasing an additional 81,800 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Arlo Technologies in the second quarter valued at $1,264,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Company Profile

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.