Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 27,588 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 27,588 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the transaction, the general counsel now owns 611,465 shares in the company, valued at approximately $7,056,306.10. This represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arlo Technologies Stock Down 2.0 %

NYSE ARLO opened at $12.74 on Friday. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64. The company has a 50 day moving average price of $11.47 and a 200 day moving average price of $12.62. The firm has a market cap of $1.28 billion, a PE ratio of -50.96 and a beta of 1.79.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARLO. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum dropped their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ARLO. Brandes Investment Partners LP grew its stake in Arlo Technologies by 1.0% during the 2nd quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after buying an additional 53,242 shares during the last quarter. State Street Corp boosted its holdings in Arlo Technologies by 0.6% in the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after acquiring an additional 26,492 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock worth $49,281,000 after acquiring an additional 191,536 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Arlo Technologies by 7.1% during the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after acquiring an additional 247,160 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Arlo Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 shares during the last quarter. Hedge funds and other institutional investors 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.