Hillsdale Investment Management Inc. Lowers Position in Arlo Technologies, Inc. (NYSE:ARLO)

Hillsdale Investment Management Inc. reduced its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 32.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 251,282 shares of the company’s stock after selling 118,700 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.25% of Arlo Technologies worth $2,812,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brandes Investment Partners LP raised its stake in shares of Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after acquiring an additional 375,903 shares during the period. State Street Corp raised its position in Arlo Technologies by 0.6% in the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock valued at $51,704,000 after purchasing an additional 26,492 shares during the period. Wasatch Advisors LP raised its position in Arlo Technologies by 7.1% in the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the period. Geode Capital Management LLC lifted its stake in Arlo Technologies by 2.2% during the third 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 in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Arlo Technologies by 16.3% during the fourth quarter. Royce & Associates LP now owns 1,637,080 shares of the company’s stock worth $18,319,000 after buying an additional 229,450 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Price Performance

ARLO opened at $10.49 on Friday. The business has a fifty day moving average price of $11.54 and a 200 day moving average price of $11.58. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -41.96 and a beta of 1.66.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50. Following the completion of the sale, the chief financial officer now directly owns 837,906 shares of the company’s stock, valued at approximately $9,635,919. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the completion of the transaction, the chief executive officer now directly owns 3,161,472 shares in the company, valued at $36,862,763.52. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 648,743 shares of company stock valued at $7,503,028. 3.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.