Arlo Technologies (NYSE:ARLO) Reaches New 1-Year High at $13.40

Arlo Technologies, Inc. (NYSE:ARLO)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $13.37, with a volume of 78003 shares trading hands. The stock had previously closed at $12.96.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Arlo Technologies in a research report on Wednesday, April 24th.

Arlo Technologies Stock Up 3.4 %

The stock has a market capitalization of $1.35 billion, a P/E ratio of -57.90 and a beta of 1.87. The stock has a 50 day simple moving average of $11.76 and a two-hundred day simple moving average of $10.01.

Arlo Technologies (NYSE:ARLO) last issued its 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 the consensus estimate of $135.05 million. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. Sell-side analysts predict that Arlo Technologies, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 42,161 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the sale, the general counsel now owns 661,878 shares in the company, valued at $7,260,801.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Brian Busse sold 42,161 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total value of $462,506.17. Following the completion of the sale, the general counsel now owns 661,878 shares of the company’s stock, valued at $7,260,801.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,314,950 shares in the company, valued at $25,348,702.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,386 shares of company stock worth $3,658,179. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arlo Technologies by 18.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,327 shares of the company’s stock worth $189,000 after buying an additional 2,896 shares in the last quarter. Strs Ohio boosted its stake in shares of Arlo Technologies by 203.4% during the third quarter. Strs Ohio now owns 17,900 shares of the company’s stock valued at $184,000 after purchasing an additional 12,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Arlo Technologies by 38.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,376 shares of the company’s stock worth $313,000 after purchasing an additional 8,429 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock valued at $161,000 after buying an additional 1,378 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Arlo Technologies by 328.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,534,778 shares of the company’s stock worth $15,808,000 after buying an additional 1,176,530 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.