Key Points
- CFO Kurtis Joseph Binder sold 25,000 shares on April 6 at an average price of $13.99 for $349,750 under a pre-arranged Rule 10b5-1 plan, leaving him with 589,885 shares valued at about $8.25M (a 4.07% reduction).
- This sale is part of a string of recent insider disposals — notably 179,419 shares on March 12 for ~$2.47M plus other March/January sales — even as Arlo authorized a $50 million share buyback and reported quarterly EPS and revenue beats.
Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 25,000 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the transaction, the chief financial officer owned 589,885 shares of the company's stock, valued at $8,252,491.15. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kurtis Joseph Binder also recently made the following trade(s):
- On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The shares were sold at an average price of $13.78, for a total value of $2,472,393.82.
- On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The shares were sold at an average price of $15.11, for a total transaction of $146,038.15.
- On Tuesday, March 3rd, Kurtis Joseph Binder sold 12,539 shares of Arlo Technologies stock. The shares were sold at an average price of $14.93, for a total transaction of $187,207.27.
- On Friday, January 9th, Kurtis Joseph Binder sold 55,043 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $753,538.67.
Arlo Technologies Stock Up 2.0%
Shares of NYSE ARLO opened at $14.15 on Wednesday. Arlo Technologies, Inc. has a 52-week low of $8.13 and a 52-week high of $19.94. The firm has a fifty day moving average of $13.31 and a 200-day moving average of $14.66. The stock has a market capitalization of $1.51 billion, a PE ratio of 108.82 and a beta of 1.71.
Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The company had revenue of $141.30 million during the quarter, compared to analysts' expectations of $135.57 million. During the same period in the previous year, the company earned $0.10 EPS. The business's quarterly revenue was up 16.2% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.
Arlo Technologies announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 4th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on ARLO shares. Zacks Research cut shares of Arlo Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Weiss Ratings raised shares of Arlo Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.
View Our Latest Stock Report on ARLO
Institutional Investors Weigh In On Arlo Technologies
Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Arlo Technologies by 86.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company's stock valued at $28,000 after purchasing an additional 747 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Arlo Technologies by 763.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company's stock valued at $28,000 after purchasing an additional 1,748 shares in the last quarter. Quarry LP raised its stake in shares of Arlo Technologies by 42.0% in the 3rd quarter. Quarry LP now owns 2,649 shares of the company's stock valued at $45,000 after purchasing an additional 783 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Arlo Technologies in the 3rd quarter valued at about $86,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Arlo Technologies by 1,682.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company's stock valued at $95,000 after purchasing an additional 5,301 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.
About Arlo Technologies
(
Get Free Report)
Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.
Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.
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