Arlo Technologies (NYSE:ARLO) Shares Gap Down After Analyst Downgrade

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s stock price gapped down prior to trading on Friday after Craig Hallum lowered their price target on the stock from $17.00 to $15.00. The stock had previously closed at $12.16, but opened at $10.00. Craig Hallum currently has a buy rating on the stock. Arlo Technologies shares last traded at $10.56, with a volume of 730,582 shares.

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

Insider Buying and Selling

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ARLO. Chilton Capital Management LLC bought a new stake in Arlo Technologies in the 2nd quarter worth approximately $33,000. Quest Partners LLC increased its position in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company's stock worth $31,000 after purchasing an additional 1,882 shares during the last quarter. GAMMA Investing LLC raised its stake in Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company's stock valued at $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC lifted its position in Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company's stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies in the 2nd quarter worth about $62,000. Institutional investors own 83.18% of the company's stock.

Arlo Technologies Price Performance

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 firm's 50-day moving average price is $11.36 and its 200-day moving average price is $12.67. The stock has a market capitalization of $1.19 billion, a PE ratio of -54.18 and a beta of 1.78.

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

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.