Arlo Technologies (NYSE:ARLO) Reaches New 12-Month Low – What’s Next?

Arlo Technologies, Inc. (NYSE:ARLO) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.86 and last traded at $9.89, with a volume of 39441 shares. The stock had previously closed at $10.26.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Trading Down 1.3 %

The stock has a 50 day simple moving average of $11.35 and a 200 day simple moving average of $11.54. The firm has a market capitalization of $998.26 million, a PE ratio of -38.98 and a beta of 1.66.

Insider Buying and Selling

In related news, General Counsel Brian Busse sold 26,258 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $10.70, for a total transaction of $280,960.60. Following the transaction, the general counsel now owns 636,485 shares in the company, valued at $6,810,389.50. The trade was a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the transaction, the chief executive officer now directly owns 3,161,472 shares of the company’s stock, valued at $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,441 shares of company stock valued at $11,448,097 over the last three months. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARLO. Intech Investment Management LLC boosted its stake in shares of Arlo Technologies by 30.5% during the 3rd quarter. Intech Investment Management LLC now owns 28,710 shares of the company’s stock valued at $348,000 after purchasing an additional 6,703 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Arlo Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company’s stock valued at $12,551,000 after acquiring an additional 14,308 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Arlo Technologies by 31.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,093 shares of the company’s stock worth $570,000 after acquiring an additional 11,149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Arlo Technologies by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company’s stock worth $302,000 after acquiring an additional 2,253 shares in the last quarter. Finally, Needham Investment Management LLC lifted its stake in shares of Arlo Technologies by 29.1% in the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after purchasing an additional 285,000 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile

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.