Blueshift Asset Management LLC Acquires 3,299 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Blueshift Asset Management LLC raised its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,589 shares of the company’s stock after buying an additional 3,299 shares during the quarter. Blueshift Asset Management LLC’s holdings in Arlo Technologies were worth $264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ARLO. Smartleaf Asset Management LLC raised its stake in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after purchasing an additional 1,191 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the period. KBC Group NV raised its position in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Arlo Technologies in the fourth quarter valued at about $121,000. Finally, Hennessy Advisors Inc. grew its position in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after buying an additional 965 shares in the last quarter. 83.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARLO has been the subject of a number of research reports. Roth Capital set a $22.00 price objective on Arlo Technologies in a research report on Friday, February 28th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 12,155 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $139,782.50. Following the transaction, the chief financial officer now directly owns 837,906 shares in the company, valued at $9,635,919. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $11.04, for a total transaction of $2,208,000.00. Following the sale, the chief executive officer now directly owns 2,486,678 shares of the company’s stock, valued at approximately $27,452,925.12. The trade was a 7.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 648,743 shares of company stock valued at $7,503,028. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Down 2.0 %

Shares of ARLO opened at $10.49 on Friday. The company has a 50-day moving average price of $11.54 and a two-hundred day moving average price of $11.58. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -41.96 and a beta of 1.66. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64.

Arlo Technologies 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.