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

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating restated by research analysts at BWS Financial in a report released on Friday,Benzinga reports. They presently have a $24.00 target price on the stock. BWS Financial’s price target suggests a potential upside of 79.67% from the company’s previous close.

Separately, Craig Hallum increased their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday.

Arlo Technologies Price Performance

Shares of NYSE ARLO traded up $1.44 during mid-day trading on Friday, reaching $13.36. The company’s stock had a trading volume of 336,056 shares, compared to its average volume of 704,820. The stock has a fifty day moving average of $11.57 and a two-hundred day moving average of $11.66. The firm has a market capitalization of $1.34 billion, a PE ratio of -53.20 and a beta of 1.77. Arlo Technologies has a 52 week low of $9.92 and a 52 week high of $17.64.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the transaction, the chief executive officer now directly owns 3,161,472 shares in the company, valued at $36,862,763.52. This represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian Busse sold 17,669 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total value of $196,302.59. Following the transaction, the general counsel now directly owns 606,832 shares in the company, valued at $6,741,903.52. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 488,565 shares of company stock worth $5,629,360 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the last quarter. Quest Partners LLC increased its position in shares of Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after acquiring an additional 1,882 shares during the period. KBC Group NV increased its holdings in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after purchasing an additional 3,185 shares during the period. Ieq Capital LLC acquired a new stake in Arlo Technologies during the 4th quarter valued at approximately $121,000. Finally, Hennessy Advisors Inc. boosted its holdings in Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.