Arlo Technologies (NYSE:ARLO) Sees Strong Trading Volume After Analyst Upgrade

Shares of Arlo Technologies, Inc. (NYSE:ARLO) saw an uptick in trading volume on Monday after Craig Hallum raised their price target on the stock from $15.00 to $17.00. Craig Hallum currently has a buy rating on the stock. 573,586 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 766,187 shares.The stock last traded at $13.82 and had previously closed at $14.38.

Separately, BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th.

Insider Buying and Selling at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the transaction, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the transaction, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,333 shares of company stock valued at $1,656,923 in the last 90 days. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds have recently made changes to their positions in ARLO. Smartleaf Asset Management LLC raised its stake in Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the last quarter. KBC Group NV boosted its position in Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after purchasing an additional 3,185 shares in the last quarter. Ieq Capital LLC purchased a new position in Arlo Technologies in the fourth quarter valued at about $121,000. Finally, Hennessy Advisors Inc. lifted its position in shares of Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after buying an additional 965 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

The firm has a market capitalization of $1.39 billion, a P/E ratio of -55.44 and a beta of 1.77. The business’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $11.68.

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.