Arlo Technologies (NYSE:ARLO) Sets New 1-Year Low – Time to Sell?

Shares of Arlo Technologies, Inc. (NYSE:ARLO) hit a new 52-week low during trading on Monday . The stock traded as low as $9.86 and last traded at $9.89, with a volume of 39441 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

ARLO has been the subject of several research reports. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum lifted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Stock Performance

The company has a fifty day moving average of $11.44 and a two-hundred day moving average of $11.56. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -39.48 and a beta of 1.66.

Insider Buying and Selling

In other news, CEO Matthew Blake Mcrae sold 157,851 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,689,005.70. Following the completion of the transaction, the chief executive officer now owns 2,558,425 shares of the company’s stock, valued at approximately $27,375,147.50. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,017,441 shares of company stock worth $11,448,097. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares in the last quarter. Quest Partners LLC increased its stake in shares of Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after acquiring an additional 1,882 shares in the last quarter. KBC Group NV lifted its position in shares of Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after acquiring an additional 3,185 shares during the period. Ieq Capital LLC bought a new position in Arlo Technologies during the fourth quarter worth $121,000. Finally, Hennessy Advisors Inc. boosted its stake in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after acquiring an additional 965 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.