Arlo Technologies (NYSE:ARLO) Shares Gap Up on Analyst Upgrade

Shares of Arlo Technologies, Inc. (NYSE:ARLO) 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 traded.

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

Insider Buying and Selling

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the sale, the general counsel now owns 611,465 shares in the company, valued at approximately $7,056,306.10. The trade was a 4.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the sale, the chief executive officer now owns 3,161,472 shares of the company’s stock, valued at $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 488,565 shares of company stock worth $5,629,360 in the last quarter. Insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Arlo Technologies by 1.7% in 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 during the period. Brandes Investment Partners LP grew its holdings in shares of Arlo Technologies by 7.0% in the 4th 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 period. Wasatch Advisors LP grew its holdings in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after buying an additional 790,549 shares during the period. State Street Corp grew its holdings in shares of Arlo Technologies by 0.6% in the 3rd 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 grew its holdings 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 valued at $49,281,000 after buying an additional 191,536 shares during the period. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Trading Up 20.2 %

The company has a market cap of $1.44 billion, a price-to-earnings ratio of -57.30 and a beta of 1.77. The firm’s fifty day moving average price is $11.63 and its 200-day moving average price is $11.68.

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.