Arlo Technologies (NYSE:ARLO) Given “Buy” Rating at BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating restated by analysts at BWS Financial in a research note issued on Friday,Benzinga reports. They currently have a $24.00 price objective on the stock. BWS Financial’s price target indicates a potential upside of 79.67% from the company’s current price.

Separately, Craig Hallum raised their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday.

Arlo Technologies Price Performance

Shares of ARLO stock traded up $1.44 on Friday, hitting $13.36. The stock had a trading volume of 336,056 shares, compared to its average volume of 704,820. Arlo Technologies has a 12-month low of $9.92 and a 12-month high of $17.64. The business has a 50 day moving average of $11.57 and a 200 day moving average of $11.66. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -53.20 and a beta of 1.77.

Insider Transactions at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 46,866 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 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. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 17,669 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total value of $196,302.59. Following the transaction, the general counsel now owns 606,832 shares in the company, valued at approximately $6,741,903.52. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 488,565 shares of company stock valued at $5,629,360. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Brandes Investment Partners LP boosted its position in shares of Arlo Technologies by 7.0% during the fourth 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 lifted its position in Arlo Technologies by 21.1% during the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the period. State Street Corp grew its position in Arlo Technologies by 0.6% during the third 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 period. Finally, Rice Hall James & Associates LLC increased its stake in shares of Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock worth $49,281,000 after purchasing an additional 191,536 shares in the last quarter. Hedge funds and other institutional investors 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.