BWS Financial Reiterates “Buy” Rating for Arlo Technologies (NYSE:ARLO)

BWS Financial restated their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $24.00 target price on the stock.

A number of other research firms have also issued reports on ARLO. Craig Hallum lifted their target price on Arlo Technologies from $14.00 to $17.00 and gave the company a buy rating in a report on Friday, May 10th. Roth Mkm boosted their price objective on Arlo Technologies from $13.75 to $16.50 and gave the stock a buy rating in a research report on Friday, May 10th.

Arlo Technologies Price Performance

NYSE ARLO opened at $16.62 on Tuesday. The company has a market cap of $1.62 billion, a P/E ratio of -92.33 and a beta of 1.83. The stock has a 50-day moving average of $13.27 and a two-hundred day moving average of $11.36. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $16.94.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $124.20 million for the quarter, compared to analysts’ expectations of $124.06 million. Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. On average, analysts anticipate that Arlo Technologies will post -0.33 EPS for the current fiscal year.

Insider Activity at Arlo Technologies

In other news, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the sale, the director now owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Amy M. Rothstein sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amy M. Rothstein sold 25,000 shares of Arlo Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $13.37, for a total transaction of $334,250.00. Following the sale, the director now owns 76,271 shares in the company, valued at $1,019,743.27. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Arlo Technologies

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares during the last quarter. CWM LLC boosted its stake in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after buying an additional 1,778 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Arlo Technologies by 14.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock worth $179,000 after buying an additional 2,311 shares during the last quarter. Strs Ohio increased its position in Arlo Technologies by 7.3% in the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock valued at $182,000 after acquiring an additional 1,300 shares during the period. Finally, Victory Capital Management Inc. increased its position in Arlo Technologies by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock valued at $184,000 after acquiring an additional 3,671 shares during the period. 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.