Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 9,007 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 9,007 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the transaction, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

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

Arlo Technologies Stock Down 0.1 %

ARLO stock traded down $0.02 during mid-day trading on Thursday, reaching $11.71. 411,621 shares of the company traded hands, compared to its average volume of 773,948. The firm’s 50 day moving average price is $11.89 and its 200 day moving average price is $12.16. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -46.82 and a beta of 1.77. Arlo Technologies, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $17.64.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARLO. Squarepoint Ops LLC lifted its stake in Arlo Technologies by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock valued at $1,095,000 after acquiring an additional 7,143 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Arlo Technologies by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock valued at $469,000 after purchasing an additional 2,912 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Arlo Technologies during the second quarter valued at about $613,000. SG Americas Securities LLC purchased a new position in Arlo Technologies during the third quarter worth about $481,000. Finally, GAMMA Investing LLC grew its position in Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after purchasing an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum lowered their target price 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.

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.