Arlo Technologies (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 27,297 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 27,297 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $15.52, for a total transaction of $423,649.44. Following the transaction, the chief financial officer directly owned 442,110 shares of the company’s stock, valued at $6,861,547.20. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kurtis Joseph Binder also recently made the following trade(s):

• On Monday, August 3rd, Kurtis Joseph Binder sold 13,971 shares of Arlo Technologies stock. The shares were sold at an average price of $15.01, for a total transaction of $209,704.71.
• On Monday, July 6th, Kurtis Joseph Binder sold 16,507 shares of Arlo Technologies stock. The shares were sold at an average price of $12.83, for a total transaction of $211,784.81.
• On Friday, May 8th, Kurtis Joseph Binder sold 65,000 shares of Arlo Technologies stock. The stock was sold at an average price of $15.70, for a total transaction of $1,020,500.00.

Arlo Technologies Price Performance

Shares of ARLO opened at $15.93 on Thursday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 59.00 and a beta of 1.56. Arlo Technologies, Inc. has a 12 month low of $11.05 and a 12 month high of $19.94. The company has a 50-day moving average price of $13.30 and a two-hundred day moving average price of $13.44.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. Arlo Technologies had a return on equity of 18.66% and a net margin of 5.47%.The company had revenue of $150.38 million for the quarter, compared to analyst estimates of $139.72 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 26.3% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in shares of Arlo Technologies by 763.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock worth $28,000 after purchasing an additional 1,748 shares during the last quarter. Quarry LP raised its holdings in shares of Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after buying an additional 783 shares during the last quarter. Strs Ohio bought a new position in shares of Arlo Technologies in the first quarter valued at about $66,000. Quadrant Capital Group LLC acquired a new position in Arlo Technologies during the 3rd quarter worth about $86,000. Finally, EverSource Wealth Advisors LLC lifted its position in Arlo Technologies by 1,682.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $95,000 after buying an additional 5,301 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings cut Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Piper Sandler initiated coverage on Arlo Technologies in a report on Sunday, July 26th. They set an “overweight” rating and a $17.00 price objective for the company. UBS Group set a $20.00 price objective on Arlo Technologies in a report on Monday, May 18th. Raymond James Financial restated an “outperform” rating and issued a $19.00 target price on shares of Arlo Technologies in a research note on Friday, May 8th. Finally, Oppenheimer started coverage on shares of Arlo Technologies in a report on Monday, May 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Arlo Technologies Company Profile

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.