Arlo Technologies’ (ARLO) Buy Rating Reiterated at BWS Financial

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

Separately, Roth Mkm increased their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a buy rating in a report on Monday, July 22nd.

Arlo Technologies Stock Down 1.2 %

NYSE ARLO opened at $11.83 on Friday. The business has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $12.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. Arlo Technologies has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The stock has a market capitalization of $1.15 billion, a PE ratio of -65.72 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company had revenue of $127.45 million during the quarter, compared to analysts’ expectations of $125.03 million. During the same period in the prior year, the company earned ($0.08) EPS. Arlo Technologies’s revenue was up 10.8% compared to the same quarter last year. Equities analysts expect that Arlo Technologies will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arlo Technologies news, Director Ralph E. Faison acquired 8,842 shares of Arlo Technologies stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the purchase, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARLO. Chilton Capital Management LLC bought a new stake in shares of Arlo Technologies during the 2nd quarter worth $33,000. GAMMA Investing LLC lifted its stake in Arlo Technologies by 34.9% in the second 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 lifted its stake in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Arlo Technologies in the second quarter worth $62,000. Finally, Hennessy Advisors Inc. bought a new stake in Arlo Technologies in the second quarter worth $138,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile

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.