Amy M. Rothstein Sells 15,000 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arlo Technologies Stock Up 0.7 %

ARLO opened at $16.62 on Friday. Arlo Technologies, Inc. has a twelve month low of $7.77 and a twelve month high of $16.94. The company has a fifty day moving average of $13.27 and a 200-day moving average of $11.36. The stock has a market cap of $1.62 billion, a PE ratio of -92.33 and a beta of 1.83.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. The firm had revenue of $124.20 million for the quarter, compared to analyst estimates of $124.06 million. Sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARLO. Craig Hallum raised their price target on shares of Arlo Technologies from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Roth Mkm raised their price target on shares of Arlo Technologies from $13.75 to $16.50 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, BWS Financial reaffirmed a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Tuesday.

Institutional Investors Weigh In On Arlo Technologies

A number of large investors have recently bought and sold shares of ARLO. Cannell Capital LLC grew its holdings in Arlo Technologies by 7.5% in the third quarter. Cannell Capital LLC now owns 2,322,123 shares of the company’s stock worth $23,918,000 after purchasing an additional 162,470 shares during the period. Vanguard Group Inc. grew its holdings in shares of Arlo Technologies by 5.0% during the third quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock valued at $97,900,000 after buying an additional 451,236 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Arlo Technologies by 14.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock valued at $179,000 after buying an additional 2,311 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Arlo Technologies by 136.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 58,929 shares of the company’s stock valued at $561,000 after buying an additional 33,984 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Arlo Technologies during the fourth quarter valued at about $450,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

About Arlo Technologies

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.