Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells $84,750.12 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.44 on Thursday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -65.28 and a beta of 1.76. Arlo Technologies, Inc. has a 12 month low of $7.77 and a 12 month high of $17.64. The firm has a fifty day simple moving average of $12.43 and a 200 day simple moving average of $12.81. 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 (NYSE:ARLO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. Research analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new stake in shares of Arlo Technologies in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC increased its stake in shares of Arlo Technologies by 34.9% during the 2nd 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 raised its holdings in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at about $62,000. Finally, Hennessy Advisors Inc. acquired a new stake in Arlo Technologies in the 2nd quarter valued at about $138,000. 83.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ARLO shares. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, September 27th. Roth Mkm increased their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

About Arlo Technologies

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.