Brian Busse Sells 17,669 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 17,669 shares of the company’s 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 directly owns 606,832 shares of the company’s stock, valued at $6,741,903.52. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 transaction of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52.

Arlo Technologies Stock Performance

ARLO stock opened at $11.57 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of -46.26 and a beta of 1.77. The firm has a 50 day simple moving average of $11.75 and a 200 day simple moving average of $11.79. Arlo Technologies, Inc. has a 52 week low of $8.56 and a 52 week high of $17.64.

Analysts Set New Price Targets

ARLO has been the subject of several recent analyst reports. Craig Hallum decreased their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th.

Institutional Trading of Arlo Technologies

Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Arlo Technologies by 3.2% during the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after purchasing an additional 907 shares during the period. Hennessy Advisors Inc. lifted its stake 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 last quarter. D.A. Davidson & CO. lifted its stake in Arlo Technologies by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock valued at $1,029,000 after acquiring an additional 1,018 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Arlo Technologies by 9.7% in the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after acquiring an additional 1,103 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Arlo Technologies by 35.7% in the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after acquiring an additional 1,160 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.