Arlo Technologies (NYSE:ARLO) Shares Gap Down – Time to Sell?

Shares of Arlo Technologies, Inc. (NYSE:ARLO) gapped down prior to trading on Tuesday . The stock had previously closed at $11.04, but opened at $10.72. Arlo Technologies shares last traded at $10.59, with a volume of 776,233 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARLO shares. Craig Hallum boosted 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. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Stock Down 1.8 %

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -42.70 and a beta of 1.66. The company has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $11.59.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the transaction, the chief financial officer now owns 837,906 shares of the company’s stock, valued at $9,635,919. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the transaction, the general counsel now directly owns 602,458 shares of the company’s stock, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 648,743 shares of company stock valued at $7,503,028 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Trading of Arlo Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted 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 valued at $26,000 after acquiring an additional 1,191 shares during the last quarter. Quest Partners LLC boosted its holdings in Arlo Technologies by 283.0% in the third 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 during the last quarter. KBC Group NV boosted its holdings in Arlo Technologies by 106.8% in the fourth 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 last quarter. Ieq Capital LLC bought a new stake in Arlo Technologies in the fourth quarter valued at approximately $121,000. Finally, Hennessy Advisors Inc. boosted its holdings in Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after acquiring an additional 965 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

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.