Craig Hallum Lowers Arlo Technologies (NYSE:ARLO) Price Target to $15.00

Arlo Technologies (NYSE:ARLO) had its target price cut by research analysts at Craig Hallum from $17.00 to $15.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 25.84% from the company’s previous close.

A number of other analysts have also weighed in on ARLO. BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm increased their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Arlo Technologies Stock Down 2.0 %

Arlo Technologies stock opened at $11.92 on Friday. Arlo Technologies has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The company has a market cap of $1.19 billion, a PE ratio of -47.68 and a beta of 1.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. The business’s 50-day simple moving average is $11.36 and its two-hundred day simple moving average is $12.69.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Arlo Technologies’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts anticipate that Arlo Technologies will post -0.4 EPS for the current year.

Insider Transactions at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the transaction, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brandes Investment Partners LP raised its position in Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after acquiring an additional 53,242 shares during the period. 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 worth $49,281,000 after purchasing an additional 191,536 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Arlo Technologies by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after buying an additional 154,100 shares in the last quarter. Engle Capital Management L.P. lifted its stake in Arlo Technologies by 25.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after buying an additional 230,000 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Arlo Technologies by 37.5% in the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after buying an additional 300,000 shares during 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.