Arlo Technologies Inc’s (ARLO) Lock-Up Period Will Expire on January 30th
Arlo Technologies’ (NYSE:ARLO) lock-up period is set to end on Wednesday, January 30th. Arlo Technologies had issued 10,215,000 shares in its IPO on August 3rd. The total size of the offering was $163,440,000 based on an initial share price of $16.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several research analysts have commented on the stock. Imperial Capital set a $39.00 price target on shares of Arlo Technologies and gave the stock a “buy” rating in a report on Monday, October 1st. Zacks Investment Research cut shares of Arlo Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of NYSE:ARLO opened at $6.80 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 2.42. Arlo Technologies has a twelve month low of $6.78 and a twelve month high of $23.77.
Large investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in shares of Arlo Technologies during the 3rd quarter worth approximately $27,000. Contravisory Investment Management Inc. purchased a new stake in shares of Arlo Technologies during the 4th quarter worth approximately $47,000. Virtu Financial LLC purchased a new stake in shares of Arlo Technologies during the 4th quarter worth approximately $109,000. American International Group Inc. purchased a new stake in shares of Arlo Technologies during the 3rd quarter worth approximately $114,000. Finally, Pentwater Capital Management LP purchased a new stake in shares of Arlo Technologies during the 3rd quarter worth approximately $145,000. Institutional investors and hedge funds own 25.47% of the company’s stock.
About Arlo Technologies
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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