The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Arlo Technologies Inc. shares valued at $14,932 were purchased by Summers Grady on Feb 15. At $4.27 per share, Summers Grady acquired 3,497 shares. The insider’s holdings grew to 227,072 shares worth approximately $1.22 million following the completion of this transaction.
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Also, FAISON RALPH E purchased 23,800 shares, netting a total of over 99,960 in proceeds. Following the buying of shares at $4.20 each, the insider now holds 343,367 shares.
Before that, Summers Grady had added 3,846 shares to its account. In a trade valued at $15,615, the Director bought Arlo Technologies Inc. shares for $4.06 each. Upon closing the transaction, the insider’s holdings increased to 3,846 shares, worth approximately $1.2 million.
As published in their initiating research note from Lake Street on January 25, 2022, Arlo Technologies Inc. [ARLO] has been a Buy and the price target has been revised to $14. This represents a 61.71% premium over Wednesday’s closing price. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late July. Earlier on November 12, 2019, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ARLO stock.
Analyzing ARLO Stock Performance
On Wednesday, Arlo Technologies Inc. [NYSE: ARLO] rose 50.14% to $5.36. The stock’s lowest price that day was $4.15, but it reached a high of $5.42 in the same session. During the last five days, there has been a surge of approximately 46.85%. Over the course of the year, Arlo Technologies Inc. shares have jumped approximately 52.71%. Shares of the company reached a 52-week high of $5.42 on 03/08/23 and a 52-week low of $3.37 on 03/07/23. A 50-day SMA is recorded $3.92, while a 200-day SMA reached $5.14. Nevertheless, trading volume fell to 15.2 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for Arlo Technologies Inc. (ARLO)
According to the 24-hour chart, there is a support level at 4.53, which, if violated, would cause prices to drop to 3.71. In the upper region, resistance lies at 5.80. The next price resistance is at 6.25. RSI (Relative Strength Index) is 75.40 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 2.93%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Arlo Technologies Inc. subject to short interest?
Stocks of Arlo Technologies Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.68 million shares to 1.74 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.42 million shares. A decline of -39.08% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.35 of the overall float, the days-to-cover ratio (short ratio) decline to 3.35.
Which companies own the most shares of Arlo Technologies Inc. (ARLO)?
According to BlackRock Fund Advisors filings, the company currently owns 13,027,496 shares, which is about 14.73% of the total ARLO shares outstanding. The investor’s shares have appreciated by 560,699 from its previous 13-F filing of 12466797.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $28,640,610. PRIMECAP Management Co. reduced a -2.33% interest valued at $18.17 million while Rice, Hall, James & Associates LL purchased a 858,203 stake. A total of -272,937 shares of Arlo Technologies Inc. were bought by Cannell Capital LLC during the quarter, and 19,150 were bought by SSgA Funds Management, Inc. In its current portfolio, Brandes Investment Partners LP holds 2,049,129 shares valued at $7.68 million.
In terms of Arlo Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $9.67 in the next 12 months, up nearly 180.11% from the previous closing price of $3.57. Analysts anticipate Arlo Technologies Inc. stock to reach $11.00 by 2023, with the lowest price target being $8.00. In spite of this, 3 analysts ranked Arlo Technologies Inc. stock as an Overweight at the end of 2023. On August 07, 2019, BofA/Merrill assigned a price target of “an Underperform” to the stock and reiterated coverage with a $3.50.