Arlo Technologies (NYSE:ARLO) Trading Down 5.3% – What’s Next?

Arlo Technologies, Inc. (NYSE:ARLO)’s share price traded down 5.3% during trading on Wednesday . The company traded as low as $11.38 and last traded at $11.40. 464,384 shares were traded during trading, a decline of 51% from the average session volume of 950,420 shares. The stock had previously closed at $12.04.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Craig Hallum reduced their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th.

Arlo Technologies Stock Performance

The stock has a market capitalization of $1.13 billion, a P/E ratio of -48.16 and a beta of 1.78. The company’s fifty day simple moving average is $11.44 and its two-hundred day simple moving average is $12.62.

Insider Buying and Selling at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’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 transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quest Partners LLC boosted its position in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in Arlo Technologies in the second quarter valued at approximately $33,000. GAMMA Investing LLC boosted its position in Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after buying an additional 840 shares in the last quarter. CWM LLC boosted its position in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Arlo Technologies in the second quarter valued at approximately $62,000. 83.18% of the stock is owned by institutional investors.

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.