Arlo Technologies (NYSE:ARLO) Shares Gap Down After Analyst Downgrade

Arlo Technologies, Inc. (NYSE:ARLO) shares gapped down prior to trading on Friday after Craig Hallum lowered their price target on the stock from $17.00 to $15.00. The stock had previously closed at $12.16, but opened at $10.00. Craig Hallum currently has a buy rating on the stock. Arlo Technologies shares last traded at $10.56, with a volume of 730,582 shares trading hands.

A number of other research firms have also recently commented on ARLO. BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm increased their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

Large investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. bought a new stake in shares of Arlo Technologies during the first quarter valued at approximately $885,000. Lord Abbett & CO. LLC bought a new stake in shares of Arlo Technologies during the first quarter valued at approximately $8,282,000. Inspire Investing LLC bought a new stake in shares of Arlo Technologies during the first quarter valued at approximately $873,000. Swedbank AB grew its position in Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock worth $10,432,000 after purchasing an additional 250,000 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Arlo Technologies by 644.1% during the 1st quarter. Susquehanna Fundamental Investments LLC now owns 155,488 shares of the company’s stock worth $1,967,000 after acquiring an additional 134,591 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Stock Down 11.8 %

The company’s 50 day moving average price is $11.36 and its two-hundred day moving average price is $12.67. The firm has a market cap of $1.07 billion, a PE ratio of -48.73 and a beta of 1.78. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $125.03 million. During the same quarter last year, the company posted ($0.08) EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

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.