Arlo Technologies, Inc. (NYSE:ARLO – Get Free Report) CFO Kurtis Joseph Binder sold 13,971 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $15.01, for a total value of $209,704.71. Following the transaction, the chief financial officer directly owned 469,407 shares in the company, valued at approximately $7,045,799.07. This represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 Tuesday, August 4th, Kurtis Joseph Binder sold 27,297 shares of Arlo Technologies stock. The shares were sold at an average price of $15.52, for a total value of $423,649.44.
- On Monday, July 6th, Kurtis Joseph Binder sold 16,507 shares of Arlo Technologies stock. The stock was sold at an average price of $12.83, for a total value of $211,784.81.
- On Friday, May 8th, Kurtis Joseph Binder sold 65,000 shares of Arlo Technologies stock. The stock was sold at an average price of $15.70, for a total value of $1,020,500.00.
Arlo Technologies Price Performance
Shares of ARLO opened at $15.93 on Thursday. Arlo Technologies, Inc. has a 12-month low of $11.05 and a 12-month high of $19.94. The firm has a market capitalization of $1.73 billion, a PE ratio of 59.00 and a beta of 1.56. The stock’s fifty day simple moving average is $13.30 and its 200-day simple moving average is $13.44.
Analyst Upgrades and Downgrades
ARLO has been the subject of several analyst reports. William Blair initiated coverage on shares of Arlo Technologies in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Piper Sandler initiated coverage on shares of Arlo Technologies in a report on Sunday, July 26th. They issued an “overweight” rating and a $17.00 price objective on the stock. UBS Group set a $20.00 price objective on shares of Arlo Technologies in a research note on Monday, May 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $19.00 target price on shares of Arlo Technologies in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.
Check Out Our Latest Stock Report on ARLO
Hedge Funds Weigh In On Arlo Technologies
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Arlo Technologies by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,691,336 shares of the company’s stock valued at $149,572,000 after acquiring an additional 32,770 shares during the period. Brandes Investment Partners LP grew its holdings in Arlo Technologies by 27.6% during the fourth quarter. Brandes Investment Partners LP now owns 8,198,707 shares of the company’s stock valued at $114,700,000 after purchasing an additional 1,772,063 shares during the period. Wasatch Advisors LP increased its stake in Arlo Technologies by 9.0% in the second quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock valued at $79,747,000 after purchasing an additional 489,668 shares in the last quarter. State Street Corp increased its stake in Arlo Technologies by 5.3% in the second quarter. State Street Corp now owns 4,272,925 shares of the company’s stock valued at $72,469,000 after purchasing an additional 215,867 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in Arlo Technologies by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 3,659,888 shares of the company’s stock worth $52,080,000 after purchasing an additional 83,276 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.
Arlo Technologies Company Profile
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.
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