Arlo Technologies (NYSE:ARLO) Hits New 52-Week Low – Time to Sell?

Shares of Arlo Technologies, Inc. (NYSE:ARLO) reached a new 52-week low during trading on Monday . The company traded as low as $9.86 and last traded at $9.89, with a volume of 39441 shares. The stock had previously closed at $10.26.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a report on Friday, February 28th. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.

Arlo Technologies Stock Down 3.8 %

The stock’s 50 day moving average is $11.44 and its 200 day moving average is $11.56. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -39.48 and a beta of 1.66.

Insider Activity

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 12,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the sale, the chief financial officer now owns 837,906 shares of the company’s stock, valued at $9,635,919. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Blake Mcrae sold 157,851 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70. Following the completion of the transaction, the chief executive officer now directly owns 2,558,425 shares of the company’s stock, valued at approximately $27,375,147.50. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock worth $11,448,097 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Advisers LLC boosted its holdings in Arlo Technologies by 116.9% in the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock valued at $18,648,000 after acquiring an additional 898,167 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after purchasing an additional 790,549 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Arlo Technologies during the fourth quarter worth $4,586,000. Westwood Holdings Group Inc. grew its stake in shares of Arlo Technologies by 38.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock worth $16,503,000 after purchasing an additional 409,489 shares during the period. Finally, Brandes Investment Partners LP increased its holdings in Arlo Technologies by 7.0% in the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.