Arlo Technologies (NYSE:ARLO) Shares Gap Down - Time to Sell?

Shares of Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $11.04, but opened at $10.72. Arlo Technologies shares last traded at $10.59, with a volume of 776,233 shares trading hands.

Analysts Set New Price Targets

ARLO has been the topic of several research analyst reports. BWS Financial reiterated a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum upped their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies Trading Down 2.0 %

The company has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $11.58. The company has a market cap of $1.07 billion, a PE ratio of -41.96 and a beta of 1.66.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following the completion of the transaction, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares of the company's stock, valued at approximately $7,024,660.28. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 648,743 shares of company stock valued at $7,503,028. 3.80% of the stock is currently owned by corporate insiders.

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Institutional Investors Weigh In On Arlo Technologies

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Arlo Technologies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock valued at $109,902,000 after buying an additional 166,823 shares during the last quarter. Brandes Investment Partners LP grew 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 buying an additional 375,903 shares during the last quarter. Wasatch Advisors LP grew its holdings 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 buying an additional 790,549 shares during the last quarter. State Street Corp grew its holdings in Arlo Technologies by 0.6% during the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company's stock valued at $51,704,000 after buying an additional 26,492 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock valued at $24,838,000 after buying an additional 26,803 shares during the last quarter. Institutional investors and hedge funds 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.