Kurtis Joseph Binder Sells 184,589 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 184,589 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,975,102.30. Following the completion of the sale, the chief financial officer now owns 977,457 shares of the company’s stock, valued at approximately $10,458,789.90. This represents a 15.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kurtis Joseph Binder also recently made the following trade(s):

• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50.

Arlo Technologies Stock Down 2.6 %

Shares of NYSE:ARLO opened at $10.59 on Wednesday. Arlo Technologies, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $17.64. The firm’s 50-day simple moving average is $11.52 and its 200-day simple moving average is $11.58. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -42.36 and a beta of 1.66.

Analyst Upgrades and Downgrades

ARLO has been the topic of several research reports. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum boosted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a research note on Friday, February 28th.

Institutional Investors Weigh In On Arlo Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the period. Quest Partners LLC boosted its stake in shares of Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares in the last quarter. KBC Group NV grew its holdings in Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after acquiring an additional 3,185 shares during the period. Ieq Capital LLC purchased a new position in Arlo Technologies in the fourth quarter worth $121,000. Finally, Hennessy Advisors Inc. lifted its holdings in Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after acquiring an additional 965 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.