Arlo Technologies (NYSE:ARLO) Shares Down 8.7% - What's Next?

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report)'s share price traded down 8.7% on Tuesday . The stock traded as low as $11.08 and last traded at $11.10. 836,364 shares were traded during mid-day trading, an increase of 0% from the average session volume of 833,604 shares. The stock had previously closed at $12.15.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Craig Hallum lifted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Stock Performance

The company has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $11.68. The company has a market capitalization of $1.21 billion, a PE ratio of -47.29 and a beta of 1.66.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 59,316 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total transaction of $677,981.88. Following the completion of the sale, the chief executive officer now directly owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 17,669 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total value of $196,302.59. Following the sale, the general counsel now owns 606,832 shares of the company's stock, valued at approximately $6,741,903.52. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 189,516 shares of company stock worth $2,176,527. Corporate insiders own 3.80% of the company's stock.

Remove Ads

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Arlo Technologies by 234.5% during the 3rd quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after purchasing an additional 129,889 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings 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 last quarter. Lord Abbett & CO. LLC boosted its holdings 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 last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of 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 worth $8,674,000 after purchasing an additional 109,200 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Arlo Technologies during the 3rd quarter worth approximately $1,309,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.