Craig Hallum Has Lowered Expectations for Arlo Technologies (NYSE:ARLO) Stock Price

Arlo Technologies (NYSE:ARLO - Free Report) had its target price trimmed by Craig Hallum from $17.00 to $15.00 in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

ARLO has been the topic of several other reports. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th. Roth Mkm raised their target price on Arlo Technologies from $16.50 to $18.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.59 during midday trading on Friday, reaching $11.57. 2,653,438 shares of the company's stock traded hands, compared to its average volume of 949,367. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. Arlo Technologies has a one year low of $7.77 and a one year high of $17.64. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -48.73 and a beta of 1.78. The stock has a 50 day moving average of $11.36 and a 200 day moving average of $12.67.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $127.45 million during the quarter, compared to analyst estimates of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, equities research analysts anticipate that Arlo Technologies will post -0.4 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ralph E. Faison purchased 8,842 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the completion of the purchase, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.80% of the company's stock.

Institutional Trading of Arlo Technologies

A number of large investors have recently made changes to their positions in the stock. Brandes Investment Partners LP lifted its holdings in Arlo Technologies by 1.0% during the 2nd quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company's stock valued at $66,991,000 after buying an additional 53,242 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company's stock valued at $49,281,000 after buying an additional 191,536 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Arlo Technologies by 12.2% in the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company's stock valued at $18,444,000 after acquiring an additional 154,100 shares in the last quarter. Engle Capital Management L.P. lifted its stake in Arlo Technologies by 25.6% in the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company's stock worth $14,735,000 after acquiring an additional 230,000 shares during the period. Finally, Swedbank AB grew its holdings in Arlo Technologies by 37.5% during the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company's stock worth $13,321,000 after acquiring an additional 300,000 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other 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.