BWS Financial Reiterates “Buy” Rating for Arlo Technologies (NYSE:ARLO)

BWS Financial reaffirmed their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $17.00 price objective on the stock.

Arlo Technologies Price Performance

ARLO opened at $11.80 on Wednesday. The stock has a market cap of $1.13 billion, a P/E ratio of -49.17 and a beta of 1.86. The stock’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $9.81. Arlo Technologies has a 1-year low of $6.24 and a 1-year high of $13.34.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million for the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. Research analysts expect that Arlo Technologies will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Miller Joycelyn Carter sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $9.04, for a total value of $289,280.00. Following the sale, the director now owns 127,012 shares in the company, valued at approximately $1,148,188.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 132,214 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the sale, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the sale, the director now owns 127,012 shares in the company, valued at approximately $1,148,188.48. The disclosure for this sale can be found here. Insiders have sold a total of 362,386 shares of company stock worth $3,947,459 in the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Arlo Technologies by 229.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock valued at $9,161,000 after buying an additional 619,049 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arlo Technologies by 5.0% during the third quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock worth $97,900,000 after purchasing an additional 451,236 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Arlo Technologies by 29.4% during the third quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock worth $42,754,000 after purchasing an additional 943,089 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Arlo Technologies by 119.1% during the third quarter. GSA Capital Partners LLP now owns 175,289 shares of the company’s stock worth $1,805,000 after purchasing an additional 95,275 shares during the last quarter. Finally, Cannell Capital LLC boosted its holdings in shares of Arlo Technologies by 7.5% during the third quarter. Cannell Capital LLC now owns 2,322,123 shares of the company’s stock worth $23,918,000 after purchasing an additional 162,470 shares during the last quarter. Institutional investors and hedge funds 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.