Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) gapped up prior to trading on Friday after Craig Hallum raised their price target on the stock from $15.00 to $17.00. The stock had previously closed at $11.92, but opened at $12.53. Craig Hallum currently has a buy rating on the stock. Arlo Technologies shares last traded at $12.91, with a volume of 266,621 shares trading hands.
Separately, BWS Financial reiterated a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th.
Get Our Latest Report on ARLO
Insider Activity at Arlo Technologies
In related news, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the transaction, the general counsel now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $677,981.88. Following the completion of the transaction, the chief executive officer now owns 3,128,696 shares of the company's stock, valued at approximately $35,760,995.28. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,333 shares of company stock valued at $1,656,923. 3.80% of the stock is owned by corporate insiders.
Institutional Trading of Arlo Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of ARLO. Barclays PLC boosted its stake in Arlo Technologies by 234.5% during the third quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after buying an additional 129,889 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock worth $12,463,000 after purchasing an additional 216,870 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock worth $555,000 after purchasing an additional 2,284 shares during the period. Mutual of America Capital Management LLC grew its holdings in Arlo Technologies by 18.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company's stock valued at $8,674,000 after purchasing an additional 109,200 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Arlo Technologies in the 3rd quarter worth about $1,309,000. Hedge funds and other institutional investors own 83.18% of the company's stock.
Arlo Technologies Stock Down 2.2 %
The company's 50 day simple moving average is $11.65 and its 200-day simple moving average is $11.68. The firm has a market cap of $1.19 billion, a P/E ratio of -47.54 and a beta of 1.77.
Arlo Technologies Company Profile
(
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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.
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