Craig Hallum Cuts Arlo Technologies (NYSE:ARLO) Price Target to $15.00

Arlo Technologies (NYSE:ARLO) had its price target decreased by investment analysts at Craig Hallum from $17.00 to $15.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price would indicate a potential upside of 23.36% from the company’s current price.

A number of other analysts have also commented on the company. BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm raised their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Arlo Technologies Trading Up 3.3 %

Shares of ARLO stock opened at $12.16 on Friday. Arlo Technologies has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The stock has a market cap of $1.22 billion, a P/E ratio of -55.27 and a beta of 1.78. The business has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $12.67. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. On average, analysts forecast that Arlo Technologies will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Arlo Technologies by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock worth $334,000 after buying an additional 871 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Arlo Technologies by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,106 shares during the period. ProShare Advisors LLC raised its position in shares of Arlo Technologies by 7.3% during the first quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock worth $230,000 after purchasing an additional 1,241 shares during the period. Finally, CWM LLC raised its position in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the period. 83.18% of the stock is currently 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.