Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 26,258 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 26,258 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the transaction, the general counsel now directly owns 636,485 shares in the company, valued at $6,810,389.50. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Brian Busse also recently made the following trade(s):

• On Tuesday, March 4th, Brian Busse sold 6,593 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50.
• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59.
• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total transaction of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total value of $105,021.62.

Arlo Technologies Stock Performance

NYSE ARLO opened at $10.92 on Tuesday. Arlo Technologies, Inc. has a 1 year low of $9.92 and a 1 year high of $17.64. The business’s fifty day moving average is $11.54 and its two-hundred day moving average is $11.58. The stock has a market capitalization of $1.12 billion, a P/E ratio of -43.69 and a beta of 1.66.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ARLO. Emerald Advisers LLC increased its stake in Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after purchasing an additional 898,167 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after buying an additional 790,549 shares during the period. Raymond James Financial Inc. purchased a new position in Arlo Technologies during the 4th quarter worth approximately $4,586,000. Westwood Holdings Group Inc. grew its holdings in shares of Arlo Technologies by 38.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock valued at $16,503,000 after buying an additional 409,489 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after acquiring an additional 375,903 shares during the period. 83.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARLO. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th.

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.