Arlo Technologies (NYSE:ARLO) General Counsel Brian Busse Sells 15,922 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 15,922 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $12.65, for a total value of $201,413.30. Following the transaction, the general counsel owned 526,847 shares of the company’s stock, valued at approximately $6,664,614.55. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, February 6th, Brian Busse sold 31,407 shares of Arlo Technologies stock. The shares were sold at an average price of $12.29, for a total value of $385,992.03.
• On Friday, January 30th, Brian Busse sold 8,245 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total value of $105,618.45.
• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total transaction of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The shares were sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Stock Performance

Arlo Technologies stock traded up $0.39 during mid-day trading on Friday, hitting $12.41. 1,512,499 shares of the company traded hands, compared to its average volume of 1,254,114. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $19.94. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66. The stock has a fifty day moving average price of $13.69 and a 200-day moving average price of $15.77.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ARLO shares. Zacks Research downgraded Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a research report on Monday, December 29th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Arlo Technologies in a research note on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Investors Weigh In On Arlo Technologies

A number of large investors have recently added to or reduced their stakes in ARLO. Legato Capital Management LLC raised its stake in shares of Arlo Technologies by 12.0% during the fourth quarter. Legato Capital Management LLC now owns 108,725 shares of the company’s stock valued at $1,521,000 after acquiring an additional 11,615 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Arlo Technologies by 557.1% during the fourth quarter. GSA Capital Partners LLP now owns 141,372 shares of the company’s stock valued at $1,978,000 after buying an additional 119,857 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Arlo Technologies by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after acquiring an additional 800 shares in the last quarter. Hosking Partners LLP lifted its stake in Arlo Technologies by 4.9% in the fourth quarter. Hosking Partners LLP now owns 643,626 shares of the company’s stock worth $9,004,000 after acquiring an additional 29,997 shares during the period. Finally, F m Investments LLC bought a new stake in Arlo Technologies in the fourth quarter valued at $455,000. 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.