Arlo Technologies (NYSE:ARLO) Given Buy Rating at BWS Financial

BWS Financial reissued their buy rating on shares of Arlo Technologies (NYSE:ARLO - Free Report) in a report released on Friday morning,Benzinga reports. BWS Financial currently has a $24.00 target price on the stock.

Separately, Craig Hallum increased their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday.

Arlo Technologies Stock Performance

ARLO traded down $0.27 during trading on Friday, reaching $11.89. The stock had a trading volume of 1,937,876 shares, compared to its average volume of 861,863. The business has a 50-day moving average of $11.65 and a 200-day moving average of $11.68. Arlo Technologies has a one year low of $9.92 and a one year high of $17.64. The stock has a market cap of $1.19 billion, a PE ratio of -47.54 and a beta of 1.77.

Insider Activity

In related news, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $677,981.88. Following the transaction, the chief executive officer now owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,333 shares of company stock valued at $1,656,923. Corporate insiders own 3.80% of the company's stock.

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Institutional Investors Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arlo Technologies by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock worth $109,902,000 after acquiring an additional 166,823 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock valued at $64,147,000 after purchasing an additional 375,903 shares during the period. Wasatch Advisors LP raised its position in Arlo Technologies by 21.1% during the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock valued at $50,773,000 after purchasing an additional 790,549 shares during the last quarter. State Street Corp lifted its holdings in Arlo Technologies by 0.6% in the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company's stock worth $51,704,000 after buying an additional 26,492 shares during the period. Finally, Rice Hall James & Associates LLC grew its position in shares of Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company's stock worth $49,281,000 after buying an additional 191,536 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

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.