Craig Hallum Issues Pessimistic Forecast for Arlo Technologies (NYSE:ARLO) Stock Price

Arlo Technologies (NYSE:ARLO) had its price objective lowered by stock analysts at Craig Hallum from $17.00 to $15.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 25.84% from the company’s current price.

Several other brokerages have also recently issued reports on ARLO. BWS Financial restated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, September 27th. Roth Mkm upped their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

Arlo Technologies Stock Performance

ARLO opened at $11.92 on Friday. Arlo Technologies has a twelve month low of $7.77 and a twelve month high of $17.64. The firm has a market capitalization of $1.19 billion, a PE ratio of -47.68 and a beta of 1.78. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $11.36 and its 200 day moving average price is $12.69.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business had revenue of $127.45 million during the quarter, compared to analyst estimates of $125.03 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that Arlo Technologies will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the sale, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction dated 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ralph E. Faison purchased 8,842 shares of Arlo Technologies stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now directly owns 385,599 shares in the company, valued at approximately $4,584,772.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC grew its stake in shares of 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 purchased a new position in Arlo Technologies during the 2nd quarter valued at about $33,000. GAMMA Investing LLC grew its position in Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after acquiring an additional 840 shares in the last quarter. CWM LLC increased its stake in Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Arlo Technologies during the second quarter worth about $62,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.