Brian Busse Sells 31,407 Shares of Arlo Technologies (NYSE:ARLO) Stock

by · The Markets Daily

Arlo Technologies, Inc. (NYSE:ARLO – Get Free Report) General Counsel Brian Busse sold 31,407 shares of Arlo Technologies stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $385,992.03. Following the completion of the transaction, the general counsel directly owned 552,850 shares in the company, valued at approximately $6,794,526.50. The trade was a 5.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Brian Busse also recently made the following trade(s):

  • On Wednesday, February 4th, Brian Busse sold 15,922 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total transaction of $201,413.30.
  • On Friday, January 30th, Brian Busse sold 8,245 shares of Arlo Technologies stock. The stock was sold at an average price of $12.81, for a total transaction of $105,618.45.
  • On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total transaction of $257,933.29.
  • On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The stock was sold at an average price of $14.37, for a total value of $2,148,616.77.

Arlo Technologies Trading Up 3.2%

Shares of Arlo Technologies stock traded up $0.39 during trading on Friday, reaching $12.41. The stock had a trading volume of 1,512,499 shares, compared to its average volume of 1,254,114. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66. The stock has a fifty day moving average price of $13.69 and a two-hundred day moving average price of $15.77. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $19.94.

Arlo Technologies (NYSE:ARLO – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business had revenue of $139.53 million during the quarter, compared to the consensus estimate of $138.69 million. During the same period last year, the company earned $0.11 earnings per share. Arlo Technologies’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Arlo Technologies in a report on Tuesday, November 11th. Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Check Out Our Latest Stock Report on Arlo Technologies

Institutional Trading of Arlo Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in Arlo Technologies by 778.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company’s stock valued at $31,944,000 after acquiring an additional 1,670,156 shares during the last quarter. Wasatch Advisors LP lifted its stake in Arlo Technologies by 30.1% in the 2nd quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock valued at $79,354,000 after purchasing an additional 1,082,443 shares during the last quarter. Marshall Wace LLP lifted its stake in Arlo Technologies by 69.1% in the 3rd quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock valued at $43,298,000 after purchasing an additional 1,043,854 shares during the last quarter. Divisadero Street Capital Management LP grew its holdings in Arlo Technologies by 778.6% during the second quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock worth $19,520,000 after purchasing an additional 1,019,945 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Arlo Technologies by 115.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock worth $15,325,000 after purchasing an additional 830,770 shares during the period. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Company Profile

(Get Free Report)

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.

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