Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells $1,401,847.71 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 135,183 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total value of $1,401,847.71. Following the completion of the sale, the chief financial officer now directly owns 1,092,274 shares in the company, valued at $11,326,881.38. This trade represents a 11.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kurtis Joseph Binder also recently made the following trade(s):

• On Thursday, March 20th, Kurtis Joseph Binder sold 184,589 shares of Arlo Technologies stock. The stock was sold at an average price of $10.70, for a total transaction of $1,975,102.30.
• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $12.43 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of -49.72 and a beta of 1.81. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64. The firm’s 50 day moving average price is $10.03 and its 200 day moving average price is $11.12.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARLO. Smartleaf Asset Management LLC grew its holdings in 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 purchasing an additional 1,191 shares during the period. KBC Group NV grew its stake in shares of Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the period. GAMMA Investing LLC increased its holdings in shares of Arlo Technologies by 40.9% during the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock worth $71,000 after buying an additional 2,095 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Arlo Technologies in the 4th quarter worth $121,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Arlo Technologies in the first quarter valued at $123,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARLO. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Thursday, April 24th. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum upped their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

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.