Arlo Technologies (NYSE:ARLO) Trading Down 2.8%

Arlo Technologies, Inc. (NYSE:ARLO) shares were down 2.8% during trading on Wednesday . The company traded as low as $11.07 and last traded at $11.14. Approximately 144,461 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 975,473 shares. The stock had previously closed at $11.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ARLO shares. Roth Mkm upped their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, August 9th.

Arlo Technologies Price Performance

The firm has a fifty day moving average of $13.18 and a two-hundred day moving average of $12.77. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.14 billion, a PE ratio of -64.78 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The firm had revenue of $127.45 million during the quarter, compared to analyst estimates of $125.03 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts anticipate that Arlo Technologies, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other Arlo Technologies news, Director Ralph E. Faison acquired 8,842 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ralph E. Faison bought 8,842 shares of Arlo Technologies stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares in the company, valued at approximately $4,584,772.11. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Arlo Technologies in the 2nd quarter worth about $613,000. Brandes Investment Partners LP grew its holdings in Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after purchasing an additional 53,242 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Arlo Technologies by 11.1% during the second quarter. SkyView Investment Advisors LLC now owns 42,249 shares of the company’s stock valued at $551,000 after purchasing an additional 4,235 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Arlo Technologies by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock valued at $469,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Arlo Technologies during the second quarter valued at approximately $184,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.