Primecap Management Co. CA Has $60.09 Million Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Primecap Management Co. CA trimmed its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,961,891 shares of the company’s stock after selling 47,640 shares during the quarter. Primecap Management Co. CA owned approximately 4.96% of Arlo Technologies worth $60,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARLO. Brandes Investment Partners LP lifted its stake in Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after buying an additional 53,242 shares during the period. Rice Hall James & Associates LLC grew its holdings in shares of Arlo Technologies by 4.9% in the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after acquiring an additional 191,536 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Arlo Technologies by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after purchasing an additional 154,100 shares during the last quarter. Engle Capital Management L.P. raised its position in Arlo Technologies by 25.6% in the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after acquiring an additional 230,000 shares during the period. Finally, Swedbank AB raised its holdings in shares of Arlo Technologies by 37.5% in the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after purchasing an additional 300,000 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

ARLO has been the subject of a number of research reports. Craig Hallum reduced their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.

Arlo Technologies Price Performance

NYSE:ARLO opened at $11.89 on Friday. Arlo Technologies, Inc. has a 1-year low of $8.33 and a 1-year high of $17.64. The business has a 50 day moving average of $11.41 and a 200 day moving average of $12.66. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -47.56 and a beta of 1.78.

Arlo Technologies 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.