Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,347 shares of the company’s stock after selling 5,800 shares during the period. Los Angeles Capital Management LLC’s holdings in Arlo Technologies were worth $840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its position in Arlo Technologies by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock valued at $1,048,000 after buying an additional 1,106 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Arlo Technologies during the first quarter valued at about $190,000. ProShare Advisors LLC raised its position in shares of Arlo Technologies by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock valued at $230,000 after purchasing an additional 1,241 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Arlo Technologies in the 1st quarter worth approximately $8,282,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Arlo Technologies during the 1st quarter worth approximately $885,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were 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. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $11.18 on Friday. The firm’s fifty day moving average is $11.38 and its two-hundred day moving average is $12.68. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -44.72 and a beta of 1.78. Arlo Technologies, Inc. has a one year low of $8.33 and a one year high of $17.64.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARLO shares. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th. Roth Mkm raised their target price on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Craig Hallum dropped their price target on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

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.