Arlo Technologies, Inc. (NYSE:ARLO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Arlo Technologies, Inc. (NYSE:ARLO) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.6667.

ARLO has been the topic of a number of research reports. William Blair assumed coverage on shares of Arlo Technologies in a research note on Tuesday, July 7th. They issued an “outperform” rating on the stock. Piper Sandler assumed coverage on shares of Arlo Technologies in a research report on Sunday, July 26th. They set an “overweight” rating and a $17.00 price target for the company. Oppenheimer began coverage on Arlo Technologies in a research note on Monday, May 18th. They issued an “outperform” rating and a $20.00 price objective for the company. UBS Group set a $20.00 price objective on shares of Arlo Technologies in a report on Monday, May 18th. Finally, Weiss Ratings downgraded Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 65,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $15.70, for a total value of $1,020,500.00. Following the completion of the sale, the chief financial officer owned 499,885 shares in the company, valued at $7,848,194.50. This represents a 11.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 122,775 shares of company stock worth $1,865,639 over the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in shares of Arlo Technologies by 763.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock valued at $28,000 after purchasing an additional 1,748 shares during the last quarter. Quarry LP increased its stake in Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after purchasing an additional 783 shares during the last quarter. Strs Ohio acquired a new position in shares of Arlo Technologies during the 1st quarter valued at about $66,000. Quadrant Capital Group LLC acquired a new position in Arlo Technologies during the third quarter worth approximately $86,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Arlo Technologies by 1,682.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $95,000 after purchasing an additional 5,301 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $15.93 on Thursday. The firm has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $13.44. Arlo Technologies has a fifty-two week low of $11.05 and a fifty-two week high of $19.94. The company has a market cap of $1.73 billion, a P/E ratio of 59.00 and a beta of 1.56.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Arlo Technologies had a return on equity of 18.66% and a net margin of 5.47%.The business had revenue of $150.38 million during the quarter, compared to the consensus estimate of $139.72 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s quarterly revenue was up 26.3% on a year-over-year basis. Equities research analysts forecast that Arlo Technologies will post 0.2 EPS for the current year.

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.