Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells $318,365.52 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 27,588 shares of Arlo Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $318,365.52. Following the transaction, the general counsel now owns 611,465 shares in the company, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $12.77 on Wednesday. The business has a 50-day moving average of $11.44 and a 200-day moving average of $12.61. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -51.08 and a beta of 1.79. Arlo Technologies, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $17.64.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Arlo Technologies by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 66,551 shares of the company’s stock valued at $842,000 after purchasing an additional 3,242 shares during the period. Cetera Advisors LLC bought a new position in shares of Arlo Technologies during the 1st quarter worth approximately $421,000. GAMMA Investing LLC increased its holdings in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Arlo Technologies by 78.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,661 shares of the company’s stock valued at $243,000 after acquiring an additional 8,216 shares during the period. Finally, CWM LLC lifted its holdings in Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARLO has been the subject of a number of research reports. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th. Craig Hallum decreased their price target 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.

About Arlo Technologies

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.