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

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

Analyst Upgrades and Downgrades

ARLO has been the topic of a number of recent research reports. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

Arlo Technologies Price Performance

The company has a market cap of $1.13 billion, a price-to-earnings ratio of -48.16 and a beta of 1.78. The business’s fifty day moving average price is $11.44 and its 200 day moving average price is $12.62.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction 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 completion of the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ARLO. GAMMA Investing LLC grew its holdings in shares of Arlo Technologies by 34.9% during 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 during the last quarter. Arizona State Retirement System grew its holdings in shares of Arlo Technologies by 3.5% during the second quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock valued at $334,000 after buying an additional 871 shares during the last quarter. CWM LLC grew its holdings in shares of Arlo Technologies by 90.5% during 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 during the last quarter. Quest Partners LLC grew its holdings in shares of Arlo Technologies by 283.0% during 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 during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Arlo Technologies by 4.7% during the second quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock valued at $640,000 after buying an additional 2,200 shares during the last quarter. 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.