Arlo Technologies (NYSE:ARLO) Stock: Insider Ralph Faison Purchases 8,250 Shares

Arlo Technologies, Inc. (NYSE:ARLO) Director Ralph Faison bought 8,250 shares of the stock in a transaction dated Monday, November 9th. The stock was bought at an average cost of $12.17 per share, with a total value of $100,402.50. Following the purchase, the director owned 419,300 shares in the company, valued at $5,102,881. The trade was a 2.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arlo Technologies Trading Down 0.3%

NYSE ARLO opened at $12.28 on Thursday. The firm has a market cap of $1.32 billion, a PE ratio of 56.00 and a beta of 1.59. Arlo Technologies, Inc. has a 1-year low of $11.05 and a 1-year high of $16.89. The stock has a 50-day moving average of $13.02 and a 200-day moving average of $13.37.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $149.18 million for the quarter, compared to analyst estimates of $144.93 million. Arlo Technologies had a return on equity of 16.08% and a net margin of 4.11%. Arlo Technologies’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARLO shares. Wall Street Zen downgraded shares of Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Piper Sandler reiterated an “overweight” rating and set a $17.00 price target (up from $16.00) on shares of Arlo Technologies in a report on Friday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Friday, October 30th. Finally, Lake Street Capital increased their price target on shares of Arlo Technologies from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Institutional Investors Weigh In On Arlo Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Arlo Technologies during the second quarter valued at approximately $235,992,000. Wasatch Advisors LP raised its holdings in shares of Arlo Technologies by 9.0% during the second quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock valued at $79,747,000 after acquiring an additional 489,668 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in Arlo Technologies in the second quarter worth $50,320,000. Jupiter Topco LLC purchased a new stake in Arlo Technologies in the second quarter worth $34,557,000. Finally, Primecap Management Co. CA purchased a new stake in Arlo Technologies in the second quarter worth $26,183,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

About Arlo Technologies

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.