Arlo Technologies (NYSE:ARLO) Given New $17.00 Price Target at Craig Hallum

Arlo Technologies (NYSE:ARLO) had its price target boosted by Craig Hallum from $15.00 to $17.00 in a research note published on Friday, MarketBeat.com reports. They currently have a buy rating on the stock.

Separately, BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Trading Up 20.2 %

ARLO opened at $14.33 on Friday. Arlo Technologies has a 12-month low of $9.92 and a 12-month high of $17.64. The business’s fifty day simple moving average is $11.57 and its 200-day simple moving average is $11.66. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -57.30 and a beta of 1.77.

Insider Activity

In related news, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the sale, the general counsel now owns 611,465 shares in the company, valued at $7,056,306.10. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56. Following the completion of the sale, the chief executive officer now owns 3,161,472 shares in the company, valued at $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 488,565 shares of company stock worth $5,629,360 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arlo Technologies

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Arlo Technologies by 3.2% in the 4th 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. boosted its holdings in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after buying an additional 1,018 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Arlo Technologies by 9.7% during the 4th 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, Smartleaf Asset Management LLC grew its stake in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.