Craig Hallum Forecasts Strong Price Appreciation for Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies (NYSE:ARLO) had its target price raised by Craig Hallum from $15.00 to $17.00 in a report released on Friday morning, MarketBeat reports. They currently have a buy rating on the stock.

Separately, BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $14.33 on Friday. The stock’s 50-day moving average is $11.57 and its two-hundred day moving average is $11.66. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -57.30 and a beta of 1.77. Arlo Technologies has a 1-year low of $9.92 and a 1-year high of $17.64.

Insider Buying and Selling

In other news, General Counsel Brian Busse sold 27,588 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of the transaction, the general counsel now owns 611,465 shares of the company’s stock, valued at $7,056,306.10. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the transaction, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at $36,477,801.52. This trade represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 488,565 shares of company stock valued at $5,629,360. 3.80% of the stock is owned by insiders.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Arlo Technologies by 3.2% in the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock valued at $325,000 after purchasing an additional 907 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Arlo Technologies by 9.6% in the 4th 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. D.A. Davidson & CO. increased its holdings in shares of Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after buying an additional 1,018 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Arlo Technologies by 9.7% in the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock worth $140,000 after buying an additional 1,103 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.