Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells $318,365.52 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 27,588 shares of the stock in a transaction 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 completion of the sale, the general counsel now directly owns 611,465 shares in the company, valued at approximately $7,056,306.10. This represents a 4.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arlo Technologies Trading Down 2.0 %

NYSE:ARLO opened at $12.74 on Friday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -50.96 and a beta of 1.79. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64. The stock has a fifty day simple moving average of $11.47 and a 200-day simple moving average of $12.62.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC increased its position in shares of Arlo Technologies by 16.5% during the third quarter. Orion Capital Management LLC now owns 45,160 shares of the company’s stock worth $547,000 after acquiring an additional 6,400 shares during the period. Geode Capital Management LLC increased its holdings in Arlo Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock worth $26,554,000 after purchasing an additional 48,221 shares during the period. Barclays PLC raised its position in Arlo Technologies by 234.5% during the 3rd 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. Y Intercept Hong Kong Ltd purchased a new stake in shares of Arlo Technologies in the 3rd quarter worth $386,000. Finally, State Street Corp grew its position in shares of Arlo Technologies by 0.6% during the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after buying an additional 26,492 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ARLO shares. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th.

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.