Royce & Associates LP Decreases Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Royce & Associates LP cut its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 13.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,407,630 shares of the company’s stock after selling 214,360 shares during the period. Royce & Associates LP owned approximately 1.41% of Arlo Technologies worth $17,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Emerald Advisers LLC acquired a new position in shares of Arlo Technologies in the 2nd quarter valued at approximately $11,528,000. Emerald Mutual Fund Advisers Trust bought a new position in Arlo Technologies during the 2nd quarter worth $9,413,000. Westwood Holdings Group Inc. grew its stake in shares of Arlo Technologies by 289.7% in the second quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock worth $12,274,000 after purchasing an additional 699,724 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Arlo Technologies in the first quarter worth $8,282,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after purchasing an additional 590,778 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $11.18 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -44.72 and a beta of 1.78. The business’s 50-day simple moving average is $11.38 and its 200-day simple moving average is $12.68. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

ARLO has been the subject of several analyst reports. Roth Mkm upped their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Craig Hallum reduced their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th.

Arlo Technologies Company Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.