Arlo Technologies (NYSE:ARLO) Receives Buy Rating from BWS Financial

BWS Financial reissued their buy rating on shares of Arlo Technologies (NYSE:ARLO) in a research report report published on Friday,Benzinga reports. They currently have a $24.00 price objective on the stock.

Separately, Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday.

Arlo Technologies Stock Up 20.2 %

Arlo Technologies stock opened at $14.33 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of -57.30 and a beta of 1.77. The firm’s fifty day moving average is $11.57 and its 200 day moving average is $11.66. Arlo Technologies has a 12-month low of $9.92 and a 12-month high of $17.64.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 17,669 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total value of $196,302.59. Following the completion of the transaction, the general counsel now directly owns 606,832 shares of the company’s stock, valued at $6,741,903.52. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the company’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 488,565 shares of company stock worth $5,629,360 in the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Trading of Arlo Technologies

A number of large investors have recently modified their holdings of the business. Raymond James & Associates raised its stake in Arlo Technologies by 15.4% in the third quarter. Raymond James & Associates now owns 415,506 shares of the company’s stock valued at $5,032,000 after purchasing an additional 55,580 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Arlo Technologies by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 136,344 shares of the company’s stock worth $1,651,000 after buying an additional 2,774 shares during the last quarter. Rice Hall James & Associates LLC raised its position in shares of Arlo Technologies by 4.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Arlo Technologies by 13.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,181 shares of the company’s stock worth $257,000 after acquiring an additional 2,520 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in Arlo Technologies in the third quarter worth $251,000. Institutional investors own 83.18% of the company’s stock.

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.