Arlo Technologies, Inc. (NYSE:ARLO) Position Lowered by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC trimmed its position in Arlo Technologies, Inc. (NYSE:ARLO) by 11.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,498 shares of the company’s stock after selling 25,396 shares during the period. Essex Investment Management Co. LLC’s holdings in Arlo Technologies were worth $2,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi boosted its holdings in Arlo Technologies by 163.1% in the fourth quarter. Amundi now owns 102,633 shares of the company’s stock worth $1,218,000 after purchasing an additional 63,622 shares during the period. Raymond James Financial Inc. bought a new position in shares of Arlo Technologies in the 4th quarter worth about $4,586,000. Arizona State Retirement System boosted its holdings in shares of Arlo Technologies by 3.2% in the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock valued at $325,000 after buying an additional 907 shares during the period. Atria Investments Inc grew its position in shares of Arlo Technologies by 26.4% during the 4th quarter. Atria Investments Inc now owns 66,101 shares of the company’s stock valued at $740,000 after buying an additional 13,822 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Arlo Technologies by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,905 shares of the company’s stock worth $11,715,000 after acquiring an additional 10,505 shares during the period. 83.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Matthew Blake Mcrae sold 46,866 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was 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 of the company’s stock, valued at approximately $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 17,669 shares of Arlo Technologies stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59. Following the sale, the general counsel now owns 606,832 shares in the company, valued at approximately $6,741,903.52. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,516 shares of company stock valued at $2,176,527. Insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Down 0.2 %

Arlo Technologies stock opened at $11.82 on Monday. Arlo Technologies, Inc. has a 52-week low of $9.92 and a 52-week high of $17.64. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -47.29 and a beta of 1.66. The firm has a 50-day moving average price of $11.68 and a two-hundred day moving average price of $11.67.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

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.