Arlo Technologies (NYSE:ARLO) Trading Up 6.9% – Still a Buy?

Arlo Technologies, Inc. (NYSE:ARLO) shot up 6.9% during trading on Tuesday . The stock traded as high as $12.63 and last traded at $12.63. 578,136 shares were traded during trading, a decline of 39% from the average session volume of 951,357 shares. The stock had previously closed at $11.81.

Analyst Upgrades and Downgrades

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

Arlo Technologies Trading Up 8.1 %

The stock has a fifty day moving average of $11.42 and a 200-day moving average of $12.61.

Insider Buying and Selling at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently modified their holdings of ARLO. Swedbank AB raised its position in shares of Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock worth $10,432,000 after acquiring an additional 250,000 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Arlo Technologies by 3,624.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after buying an additional 590,778 shares during the period. Engle Capital Management L.P. increased its stake in shares of Arlo Technologies by 25.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after acquiring an additional 230,000 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Arlo Technologies during the 2nd quarter valued at $9,413,000. Finally, Renaissance Technologies LLC boosted its stake in Arlo Technologies by 12.2% during the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after acquiring an additional 154,100 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.