Arlo Technologies Receives Positive Outlook from BWS Financial

Arlo Technologies (NYSE:ARLO) has received a "buy" rating from analysts at BWS Financial, who reaffirmed this position in a research note released on Friday. The firm has set a price target of $24.00 for Arlo's stock, suggesting a potential upside of approximately 79.67% based on current trading levels.

In addition, another firm, Craig Hallum, raised its price target for Arlo Technologies from $15.00 to $17.00 while also maintaining a "buy" rating for the shares.

Recent Stock Performance

On Friday, shares of ARLO rose by $1.44, reaching a trading price of $13.36. The trading volume stood at 336,056 shares, which is below the average volume of 704,820 shares. Over the last 12 months, the stock has fluctuated between a low of $9.92 and a high of $17.64. Arlo Technologies currently holds a market capitalization of $1.34 billion, with a price-to-earnings ratio of -53.20, and a beta value of 1.77.

Insider Activity

In other company news, CEO Matthew Blake Mcrae executed a sale of 46,866 shares on January 29th, transacting at an average price of $11.66, totaling approximately $546,457.56. Following this sale, Mcrae's ownership in Arlo decreased by 1.46%, leaving him with 3,161,472 shares valued at around $36.86 million. Similarly, General Counsel Brian Busse sold 17,669 shares on February 12th at an average price of $11.11, amounting to about $196,302.59. After the transaction, Busse owned approximately 606,832 shares, representing a 2.83% reduction in his stock position. Collectively, insiders have sold 488,565 shares within the last quarter, totaling approximately $5.63 million, with insiders holding about 3.80% of the company's stock.

Institutional Investors' Movements

Several hedge funds and institutional investors have adjusted their positions in Arlo Technologies recently. For instance, Vanguard Group Inc. increased its stake by 1.7% in the fourth quarter, owning 9,821,417 shares valued at $109.9 million after acquiring an additional 166,823 shares. Brandes Investment Partners LP also enhanced its holdings by 7.0%, owning 5,732,547 shares worth $64.1 million after buying 375,903 shares. Wasatch Advisors LP boosted its position by 21.1%, now holding 4,537,333 shares valued at $50.77 million. State Street Corp and Rice Hall James & Associates LLC also amplified their investments in the company. Currently, institutional investors collectively own 83.18% of Arlo Technologies' stock.

About Arlo Technologies

Arlo Technologies, Inc., along with its subsidiaries, offers cloud-based smart home security solutions across the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its product offerings include a variety of cameras and systems designed for home protection, remote monitoring, and emergency response.

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