Arlo Technologies (NYSE:ARLO) Reaches New 52-Week Low - Time to Sell?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.86 and last traded at $9.89, with a volume of 39441 shares trading hands. The stock had previously closed at $10.26.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. Craig Hallum raised their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies Stock Down 0.7 %

The company has a market cap of $866.01 million, a PE ratio of -33.82 and a beta of 1.71. The firm has a fifty day simple moving average of $11.24 and a 200-day simple moving average of $11.50.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 9,007 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the transaction, the general counsel now owns 602,458 shares in the company, valued at approximately $7,024,660.28. This represents a 1.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the completion of the sale, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,017,441 shares of company stock valued at $11,448,097. Insiders own 3.80% of the company's stock.

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Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently added to or reduced their stakes in ARLO. Smartleaf Asset Management LLC increased its holdings in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after purchasing an additional 1,191 shares in the last quarter. KBC Group NV grew its position in shares of 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 purchasing an additional 3,185 shares during the last quarter. Ieq Capital LLC purchased a new position in Arlo Technologies during the fourth quarter worth $121,000. Hennessy Advisors Inc. raised its stake in Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after purchasing an additional 965 shares during the last quarter. Finally, Balboa Wealth Partners acquired a new position in shares of Arlo Technologies in the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

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.