Arlo Technologies (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 25,000 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.19, for a total transaction of $379,750.00. Following the transaction, the chief financial officer directly owned 564,885 shares of the company’s stock, valued at approximately $8,580,603.15. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Kurtis Joseph Binder sold 25,000 shares of Arlo Technologies stock. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00.
• On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The stock was sold at an average price of $13.78, for a total transaction of $2,472,393.82.
• On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The stock was sold at an average price of $15.11, for a total transaction of $146,038.15.
• On Tuesday, March 3rd, Kurtis Joseph Binder sold 12,539 shares of Arlo Technologies stock. The shares were sold at an average price of $14.93, for a total transaction of $187,207.27.

Arlo Technologies Price Performance

Shares of ARLO opened at $14.85 on Wednesday. Arlo Technologies, Inc. has a 1-year low of $9.05 and a 1-year high of $19.94. The company has a 50-day moving average of $13.62 and a 200 day moving average of $14.45. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 114.25 and a beta of 1.71.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The company had revenue of $141.30 million during the quarter, compared to analyst estimates of $135.57 million. During the same quarter last year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts anticipate that Arlo Technologies, Inc. will post 0.16 earnings per share for the current fiscal year.

Arlo Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 4th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Arlo Technologies

Large investors have recently modified their holdings of the business. Katamaran Capital LLP bought a new stake in shares of Arlo Technologies in the 3rd quarter valued at about $1,875,000. Voya Investment Management LLC raised its holdings in shares of Arlo Technologies by 160.2% in the 3rd quarter. Voya Investment Management LLC now owns 273,250 shares of the company’s stock valued at $4,632,000 after purchasing an additional 168,248 shares in the last quarter. Granahan Investment Management LLC bought a new stake in shares of Arlo Technologies in the 3rd quarter valued at about $3,270,000. Tudor Investment Corp ET AL raised its holdings in shares of Arlo Technologies by 375.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 245,288 shares of the company’s stock valued at $4,158,000 after purchasing an additional 193,662 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of Arlo Technologies by 450.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 139,988 shares of the company’s stock valued at $2,373,000 after purchasing an additional 114,543 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARLO. Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings upgraded shares of Arlo Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.