Brian Busse Sells 8,245 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 8,245 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $12.81, for a total transaction of $105,618.45. Following the completion of the transaction, the general counsel directly owned 542,769 shares in the company, valued at approximately $6,952,870.89. The trade was a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The shares were 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 stock was sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $12.75 on Thursday. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $19.94. The firm has a fifty day moving average price of $13.77 and a 200-day moving average price of $15.82. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 425.14 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $138.69 million. During the same period last year, the firm earned $0.11 EPS. Arlo Technologies’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arlo Technologies by 778.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company’s stock worth $31,944,000 after acquiring an additional 1,670,156 shares in the last quarter. Wasatch Advisors LP increased its position in Arlo Technologies by 30.1% in the second quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock worth $79,354,000 after purchasing an additional 1,082,443 shares during the last quarter. Marshall Wace LLP raised its stake in Arlo Technologies by 69.1% during the third quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock valued at $43,298,000 after purchasing an additional 1,043,854 shares in the last quarter. Divisadero Street Capital Management LP raised its stake in Arlo Technologies by 778.6% during the second quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock valued at $19,520,000 after purchasing an additional 1,019,945 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Arlo Technologies by 115.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock valued at $15,325,000 after purchasing an additional 830,770 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the subject of several analyst reports. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Arlo Technologies in a report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

About Arlo Technologies

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.