Arlo Technologies (NYSE:ARLO) Receives Buy Rating from BWS Financial

BWS Financial reaffirmed their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research note released on Friday morning, Benzinga reports. BWS Financial currently has a $24.00 price objective on the stock.

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

Arlo Technologies Stock Down 1.2 %

ARLO opened at $11.83 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a market capitalization of $1.15 billion, a PE ratio of -65.72 and a beta of 1.76. The firm’s 50 day simple moving average is $12.61 and its two-hundred day simple moving average is $12.81.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that Arlo Technologies will post -0.4 EPS for the current year.

Insider Transactions at Arlo Technologies

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

Hedge Funds Weigh In On Arlo Technologies

Several institutional investors have recently bought and sold shares of ARLO. Jupiter Asset Management Ltd. bought a new stake in shares of Arlo Technologies in the 1st quarter worth about $885,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Arlo Technologies by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after buying an additional 58,620 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Arlo Technologies by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock valued at $831,000 after purchasing an additional 6,757 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in Arlo Technologies during the 1st quarter valued at about $797,000. Finally, Inspire Investing LLC bought a new position in Arlo Technologies during the 1st quarter valued at about $873,000. 83.18% of the stock is 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.