Craig Hallum Forecasts Strong Price Appreciation for Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies (NYSE:ARLO) had its price objective increased by equities research analysts at Craig Hallum from $15.00 to $17.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 42.20% from the stock’s previous close.

Separately, BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Stock Up 0.6 %

Shares of ARLO stock opened at $11.96 on Friday. The company has a market cap of $1.20 billion, a P/E ratio of -47.82 and a beta of 1.77. The business has a 50 day moving average of $11.56 and a two-hundred day moving average of $11.66. Arlo Technologies has a 52 week low of $9.50 and a 52 week high of $17.64.

Insider Transactions at Arlo Technologies

In other news, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of the sale, the general counsel now owns 611,465 shares in the company, valued at $7,056,306.10. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the transaction, the chief executive officer now directly owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. The trade was a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 488,565 shares of company stock valued at $5,629,360. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARLO. Smartleaf Asset Management LLC increased its holdings in shares of Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. Quest Partners LLC raised its position in shares of Arlo Technologies by 283.0% during 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 period. KBC Group NV lifted its holdings in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after purchasing an additional 3,185 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Arlo Technologies in the 4th quarter valued at $121,000. Finally, Hennessy Advisors Inc. boosted its position in shares of Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares during the period. 83.18% of the stock is owned by institutional investors and hedge funds.

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.