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

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating restated by research analysts at BWS Financial in a research note issued on Friday,Benzinga reports. They currently have a $24.00 price objective on the stock. BWS Financial’s target price suggests a potential upside of 101.34% from the stock’s current price.

ARLO has been the subject of a number of other reports. Roth Mkm raised their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Craig Hallum lowered their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday.

Arlo Technologies Trading Down 2.0 %

Shares of ARLO stock traded down $0.24 during mid-day trading on Friday, reaching $11.92. 4,004,556 shares of the stock traded hands, compared to its average volume of 956,325. The stock’s fifty day simple moving average is $11.36 and its two-hundred day simple moving average is $12.67. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -54.18 and a beta of 1.78. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

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 firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same period last year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Arlo Technologies will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ralph E. Faison acquired 8,842 shares of Arlo Technologies stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the purchase, the director now owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ralph E. Faison bought 8,842 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the transaction, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Brandes Investment Partners LP boosted its position in shares of Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after buying an additional 53,242 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares during the last quarter. Renaissance Technologies LLC boosted its position in Arlo Technologies by 12.2% in the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after purchasing an additional 154,100 shares during the last quarter. Engle Capital Management L.P. boosted its position in Arlo Technologies by 25.6% in the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Swedbank AB boosted its position in Arlo Technologies by 37.5% in the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after purchasing an additional 300,000 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.