Kurtis Joseph Binder Sells 25,000 Shares of Arlo Technologies (NYSE:ARLO) Stock
by Renee Jackson · The Cerbat GemArlo Technologies, Inc. (NYSE:ARLO – Get Free Report) CFO Kurtis Joseph Binder sold 25,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00. Following the sale, the chief financial officer directly owned 589,885 shares in the company, valued at $8,252,491.15. The trade was a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kurtis Joseph Binder also recently made the following trade(s):
- On Thursday, March 12th, Kurtis Joseph Binder sold 179,419 shares of Arlo Technologies stock. The shares were sold at an average price of $13.78, for a total transaction of $2,472,393.82.
- On Wednesday, March 4th, Kurtis Joseph Binder sold 9,665 shares of Arlo Technologies stock. The shares were sold at an average price of $15.11, for a total transaction of $146,038.15.
- On Tuesday, March 3rd, Kurtis Joseph Binder sold 12,539 shares of Arlo Technologies stock. The shares were sold at an average price of $14.93, for a total transaction of $187,207.27.
- On Friday, January 9th, Kurtis Joseph Binder sold 55,043 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $753,538.67.
Arlo Technologies Stock Performance
ARLO stock traded up $0.28 during midday trading on Tuesday, reaching $14.15. 735,002 shares of the company’s stock traded hands, compared to its average volume of 1,268,485. The company has a 50-day moving average price of $13.31 and a two-hundred day moving average price of $14.66. Arlo Technologies, Inc. has a 52 week low of $8.13 and a 52 week high of $19.94. The firm has a market capitalization of $1.51 billion, a PE ratio of 108.82 and a beta of 1.71.
Arlo Technologies (NYSE:ARLO – Get Free Report) last issued its earnings results on Friday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Arlo Technologies had a net margin of 2.82% and a return on equity of 10.76%. The business had revenue of $141.30 million for the quarter, compared to analysts’ expectations of $135.57 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.
Arlo Technologies declared that its board has approved a share repurchase plan on Wednesday, March 4th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARLO. Smartleaf Asset Management LLC grew its position in Arlo Technologies by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after acquiring an additional 747 shares in the last quarter. Hantz Financial Services Inc. grew its position in Arlo Technologies by 763.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock worth $28,000 after acquiring an additional 1,748 shares in the last quarter. Quarry LP grew its position in Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after acquiring an additional 783 shares in the last quarter. Strs Ohio purchased a new position in Arlo Technologies in the first quarter worth $66,000. Finally, Quadrant Capital Group LLC purchased a new position in Arlo Technologies in the third quarter worth $86,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ARLO has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings upgraded shares of Arlo Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Arlo Technologies has an average rating of “Moderate Buy” and an average price target of $23.33.
Get Our Latest Research Report on Arlo Technologies
Arlo Technologies Company Profile
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.