Key Points
- CFO Kurtis Joseph Binder sold 25,000 Arlo shares on April 17 at an average price of $15.19 for $379,750, reducing his stake to 564,885 shares (a 4.24% decrease); the sale was executed under a pre‑arranged Rule 10b5‑1 plan and disclosed on an SEC Form 4.
- Binder has conducted several large insider sales this quarter (including 179,419 shares on March 12), while Arlo reported a quarterly EPS beat ($0.22 vs. $0.16) with 16.2% revenue growth and initiated a $50 million share repurchase program.
Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.19, for a total transaction of $379,750.00. Following the completion of the transaction, the chief financial officer directly owned 564,885 shares in the company, valued at approximately $8,580,603.15. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kurtis Joseph Binder also recently made the following trade(s):
- On Monday, April 6th, Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00.
- On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The stock was sold at an average price of $13.78, for a total transaction of $2,472,393.82.
- On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The stock was 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 stock was sold at an average price of $14.93, for a total transaction of $187,207.27.
Arlo Technologies Stock Down 0.8%
Shares of Arlo Technologies stock opened at $14.85 on Wednesday. The firm's 50 day moving average price is $13.62 and its 200-day moving average price is $14.45. Arlo Technologies, Inc. has a 52-week low of $9.05 and a 52-week high of $19.94. The company has a market cap of $1.59 billion, a P/E ratio of 114.25 and a beta of 1.71.
Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The firm had revenue of $141.30 million for the quarter, compared to the consensus estimate of $135.57 million. During the same quarter in the previous year, the firm earned $0.10 EPS. The company's quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post 0.16 EPS for the current fiscal year.
Arlo Technologies declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 4th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Zacks Research downgraded 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.33.
Read Our Latest Analysis on Arlo Technologies
Institutional Trading of Arlo Technologies
Several large investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its position in Arlo Technologies by 1.9% during the 1st quarter. Wasatch Advisors LP now owns 5,426,267 shares of the company's stock worth $77,216,000 after purchasing an additional 103,782 shares during the last quarter. OLD National Bancorp IN grew its position in Arlo Technologies by 17.4% during the 1st quarter. OLD National Bancorp IN now owns 13,238 shares of the company's stock worth $188,000 after purchasing an additional 1,966 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Arlo Technologies during the 1st quarter worth approximately $669,000. OP Asset Management Ltd purchased a new stake in Arlo Technologies during the 1st quarter worth approximately $6,327,000. Finally, Balboa Wealth Partners boosted its holdings in shares of Arlo Technologies by 47.6% in the 1st quarter. Balboa Wealth Partners now owns 19,526 shares of the company's stock valued at $278,000 after acquiring an additional 6,301 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.
Arlo Technologies Company Profile
(
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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