Key Points
- Arlo CFO Kurtis Joseph Binder sold 27,297 shares for approximately $423,649 at an average price of $15.52 under a pre-arranged Rule 10b5-1 plan. He retained 442,110 shares, with the transaction reducing his position by 5.82%.
- Arlo reported quarterly earnings of $0.28 per share, beating estimates of $0.19, while revenue rose 26.3% year over year to $150.38 million.
- Institutional investors own 83.18% of Arlo, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $20.67.
Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CFO Kurtis Joseph Binder sold 13,971 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $15.01, for a total value of $209,704.71. Following the completion of the transaction, the chief financial officer directly owned 469,407 shares of the company's stock, valued at approximately $7,045,799.07. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 Tuesday, August 4th, Kurtis Joseph Binder sold 27,297 shares of Arlo Technologies stock. The stock was sold at an average price of $15.52, for a total value of $423,649.44.
- On Monday, July 6th, Kurtis Joseph Binder sold 16,507 shares of Arlo Technologies stock. The stock was sold at an average price of $12.83, for a total value of $211,784.81.
- On Friday, May 8th, Kurtis Joseph Binder sold 65,000 shares of Arlo Technologies stock. The shares were sold at an average price of $15.70, for a total value of $1,020,500.00.
Arlo Technologies Stock Performance
Shares of ARLO opened at $15.93 on Thursday. The stock has a 50 day simple moving average of $13.30 and a 200 day simple moving average of $13.44. Arlo Technologies, Inc. has a 52-week low of $11.05 and a 52-week high of $19.94. The firm has a market capitalization of $1.73 billion, a PE ratio of 59.00 and a beta of 1.56.
Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. Arlo Technologies had a net margin of 5.47% and a return on equity of 18.66%. The firm had revenue of $150.38 million for the quarter, compared to the consensus estimate of $139.72 million. During the same period last year, the company posted $0.15 EPS. The business's quarterly revenue was up 26.3% on a year-over-year basis. Equities research analysts predict that Arlo Technologies, Inc. will post 0.2 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on ARLO. Raymond James Financial restated an "outperform" rating and set a $19.00 price objective on shares of Arlo Technologies in a report on Friday, May 8th. William Blair started coverage on shares of Arlo Technologies in a research note on Tuesday, July 7th. They issued an "outperform" rating for the company. Weiss Ratings lowered shares of Arlo Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Oppenheimer initiated coverage on Arlo Technologies in a report on Monday, May 18th. They set an "outperform" rating and a $20.00 target price for the company. Finally, Piper Sandler assumed coverage on Arlo Technologies in a research note on Sunday, July 26th. They issued an "overweight" rating and a $17.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.67.
Check Out Our Latest Analysis on Arlo Technologies
Hedge Funds Weigh In On Arlo Technologies
A number of large investors have recently bought and sold shares of ARLO. Wasatch Advisors LP grew its stake in shares of Arlo Technologies by 9.0% during the 2nd quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company's stock worth $79,747,000 after acquiring an additional 489,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Arlo Technologies by 13.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,615 shares of the company's stock worth $1,141,000 after purchasing an additional 10,128 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Arlo Technologies by 27.8% in the first quarter. Bank of America Corp DE now owns 256,060 shares of the company's stock worth $3,644,000 after purchasing an additional 55,689 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Arlo Technologies by 74.0% during the first quarter. Janus Henderson Group PLC now owns 1,615,569 shares of the company's stock worth $22,990,000 after purchasing an additional 687,129 shares during the last quarter. Finally, Smith Group Asset Management LLC boosted its holdings in Arlo Technologies by 9.0% during the first quarter. Smith Group Asset Management LLC now owns 53,529 shares of the company's stock worth $762,000 after purchasing an additional 4,435 shares during 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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