Arlo Technologies (NYSE:ARLO) Hits New 52-Week High at $16.94

Arlo Technologies, Inc. (NYSE:ARLO)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.94 and last traded at $16.81, with a volume of 193606 shares. The stock had previously closed at $16.06.

Wall Street Analyst Weigh In

ARLO has been the subject of a number of recent research reports. Roth Mkm boosted their price objective on shares of Arlo Technologies from $13.75 to $16.50 and gave the company a “buy” rating in a research report on Friday, May 10th. Craig Hallum upped their target price on Arlo Technologies from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Tuesday, July 9th.

Arlo Technologies Stock Up 0.6 %

The firm’s 50-day moving average price is $13.46 and its 200 day moving average price is $11.54. The firm has a market cap of $1.67 billion, a P/E ratio of -93.94 and a beta of 1.83.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. The firm had revenue of $124.20 million during the quarter, compared to the consensus estimate of $124.06 million. On average, equities analysts predict that Arlo Technologies, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the sale, the director now owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Amy M. Rothstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.37, for a total value of $334,250.00. Following the completion of the transaction, the director now directly owns 76,271 shares in the company, valued at $1,019,743.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the transaction, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake 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 buying an additional 840 shares in the last quarter. CWM LLC grew its holdings in 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 acquiring an additional 1,778 shares during the period. Strs Ohio raised its position in Arlo Technologies by 7.3% in the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after acquiring an additional 1,300 shares in the last quarter. Victory Capital Management Inc. raised its position in Arlo Technologies by 23.5% in the fourth quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock worth $184,000 after acquiring an additional 3,671 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Arlo Technologies in the 1st quarter valued at about $190,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.