Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 12,155 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 12,155 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50. Following the sale, the chief financial officer now owns 837,906 shares in the company, valued at $9,635,919. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $12.25 on Thursday. The company has a market capitalization of $1.25 billion, a P/E ratio of -48.98 and a beta of 1.66. The company’s 50-day simple moving average is $11.65 and its two-hundred day simple moving average is $11.68. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Arlo Technologies by 234.5% during the third quarter. Barclays PLC now owns 185,281 shares of the company’s stock valued at $2,244,000 after purchasing an additional 129,889 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Arlo Technologies by 26.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock valued at $12,463,000 after acquiring an additional 216,870 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Arlo Technologies by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock valued at $555,000 after acquiring an additional 2,284 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Arlo Technologies by 18.0% during the third quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company’s stock valued at $8,674,000 after acquiring an additional 109,200 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Arlo Technologies during the third quarter valued at approximately $1,309,000. 83.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Craig Hallum upped their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. BWS Financial reissued a “buy” rating and issued a $24.00 price objective 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.