Key Points
- Director Ralph Faison bought 8,250 Arlo shares at an average $12.17 each, spending about $100,403. His direct holdings rose 2.01% to 419,300 shares.
- Arlo beat quarterly estimates, reporting EPS of $0.24 versus $0.20 expected and revenue of $149.18 million versus $144.93 million expected; revenue grew 6.9% year over year.
- Analysts’ consensus rating is Moderate Buy, with a $20.40 average price target. Shares opened at $12.33, while the article noted a 12-month trading range of $11.05 to $16.89.
Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) Director Ralph Faison acquired 8,250 shares of Arlo Technologies stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $12.17 per share, for a total transaction of $100,402.50. Following the completion of the acquisition, the director directly owned 419,300 shares in the company, valued at approximately $5,102,881. This represents a 2.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Arlo Technologies Trading Up 1.5%
Arlo Technologies stock opened at $12.33 on Wednesday. The company has a fifty day simple moving average of $13.02 and a 200-day simple moving average of $13.37. The stock has a market cap of $1.33 billion, a P/E ratio of 55.18 and a beta of 1.59. Arlo Technologies, Inc. has a 12-month low of $11.05 and a 12-month high of $16.89.
Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Arlo Technologies had a return on equity of 16.08% and a net margin of 4.11%. The firm had revenue of $149.18 million for the quarter, compared to analyst estimates of $144.93 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Arlo Technologies's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Arlo Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC purchased a new stake in Arlo Technologies in the second quarter valued at $28,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Arlo Technologies during the second quarter worth about $29,000. Covestor Ltd increased its position in shares of Arlo Technologies by 44.2% during the third quarter. Covestor Ltd now owns 3,029 shares of the company's stock worth $38,000 after purchasing an additional 929 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Arlo Technologies by 848.3% in the 3rd quarter. Sterling Capital Management LLC now owns 3,613 shares of the company's stock valued at $45,000 after purchasing an additional 3,232 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Arlo Technologies by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,647 shares of the company's stock valued at $82,000 after purchasing an additional 904 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Wall Street Zen downgraded Arlo Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Arlo Technologies in a research note on Friday, October 30th. Lake Street Capital boosted their target price on Arlo Technologies from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday, November 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $17.00 price target (up from $16.00) on shares of Arlo Technologies in a report on Friday, November 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.40.
Get Our Latest Stock Analysis on ARLO
Arlo Technologies Company Profile
(
Get Free Report)
Arlo Technologies develops and sells connected home security products and services. Its offerings include indoor and outdoor security cameras, video doorbells, floodlight cameras and related smart-home devices, which let users monitor their properties through a mobile app. The company also offers subscription services, including cloud video storage, enhanced security features and professional monitoring. Arlo's products and services are available in markets including North America, Europe and Australia.
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