Arlo 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
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
(Get Rating)
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.
Further Reading
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