Arlo Technologies (NYSE:ARLO) Price Target Increased to $18.00 by Analysts at Roth Mkm

Arlo Technologies (NYSE:ARLO) had its target price raised by analysts at Roth Mkm from $16.50 to $18.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 9.49% from the company’s current price.

ARLO has been the subject of several other research reports. Craig Hallum lifted their target price on Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Tuesday, July 9th.

Arlo Technologies Trading Up 2.3 %

ARLO stock opened at $16.44 on Monday. The company has a market capitalization of $1.60 billion, a P/E ratio of -91.38 and a beta of 1.83. The firm has a 50 day simple moving average of $13.77 and a 200-day simple moving average of $11.75. Arlo Technologies has a twelve month low of $7.77 and a twelve month high of $17.64.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share 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 company had revenue of $124.20 million during the quarter, compared to the consensus estimate of $124.06 million. On average, research analysts predict that Arlo Technologies will post -0.33 EPS for the current year.

Insider Buying and Selling

In related news, Director Amy M. Rothstein sold 15,000 shares of the company’s 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 completion of the transaction, the director now directly owns 75,032 shares in the company, valued at approximately $1,112,724.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Amy M. Rothstein sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $13.37, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the period. CWM LLC grew its position in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Arlo Technologies during the 2nd quarter valued at about $138,000. Strs Ohio raised its position in shares of Arlo Technologies by 7.3% during the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Arlo Technologies by 23.5% in the 4th 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 during the period. Institutional investors 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.