Stock Traders Buy High Volume of Arlo Technologies Call Options (NYSE:ARLO)

anlene
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Arlo Technologies logoArlo Technologies, Inc. (NYSE:ARLO – Get Rating) saw unusually large options trading activity on Friday. Traders bought 2,747 call options on the stock. This is an increase of 332% compared to the average daily volume of 636 call options.

Arlo Technologies Stock Up 3.0 %

Shares of ARLO stock opened at $9.89 on Friday. The business has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $5.20. Arlo Technologies has a 12-month low of $2.93 and a 12-month high of $10.12. The firm has a market cap of $908.30 million, a P/E ratio of -14.13 and a beta of 1.62.

Arlo Technologies (NYSE:ARLO – Get Rating) last released its earnings results on Tuesday, March 7th. The company reported earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. Arlo Technologies had a negative return on equity of 63.61% and a negative net margin of 13.09%. The company had revenue of $118.53 million during the quarter, compared to analyst estimates of $106.62 million. As a group, research analysts expect that Arlo Technologies will post -0.34 EPS for the current fiscal year.

Insider Transactions at Arlo Technologies

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In other news, General Counsel Brian Busse sold 37,085 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $9.78, for a total transaction of $362,691.30. Following the completion of the sale, the general counsel now directly owns 696,816 shares of the company’s stock, valued at $6,814,860.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quilter Plc purchased a new position in shares of Arlo Technologies during the 1st quarter worth approximately $1,946,280,000. FMR LLC grew its holdings in shares of Arlo Technologies by 83.7% during the 1st quarter. FMR LLC now owns 4,979 shares of the company’s stock worth $30,000 after acquiring an additional 2,269 shares during the period. Captrust Financial Advisors grew its holdings in shares of Arlo Technologies by 70.3% during the 1st quarter. Captrust Financial Advisors now owns 6,619 shares of the company’s stock worth $59,000 after acquiring an additional 2,732 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of Arlo Technologies by 733.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,297 shares of the company’s stock worth $32,000 after acquiring an additional 8,182 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Arlo Technologies by 82.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,704 shares of the company’s stock worth $34,000 after acquiring an additional 4,395 shares during the period. Institutional investors own 72.87% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the subject of several research reports. BWS Financial raised their target price on Arlo Technologies from $8.00 to $11.00 in a research report on Friday, May 12th. Lake Street Capital increased their price target on Arlo Technologies from $10.00 to $12.00 in a research note on Friday, May 12th.

Arlo Technologies Company Profile

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Arlo Technologies, Inc engages in the provision and development of cloud infrastructure and mobile apps for smart connected devices. It offers wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors, smart security lights, and audio doorbell. It operates through the following geographical segments: United States, Spain, Ireland, and Other Countries.

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