Boothbay Fund Management LLC Reduces Position in Arlo Technologies, Inc. (NYSE:ARLO)

Boothbay Fund Management LLC trimmed its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 29.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,394 shares of the company’s stock after selling 17,405 shares during the period. Boothbay Fund Management LLC’s holdings in Arlo Technologies were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ARLO. Vanguard Group Inc. raised its stake in shares of Arlo Technologies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company’s stock worth $109,902,000 after buying an additional 166,823 shares during the period. Brandes Investment Partners LP raised its stake in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after acquiring an additional 375,903 shares during the period. Wasatch Advisors LP lifted its holdings in Arlo Technologies by 21.1% during the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arlo Technologies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock worth $24,838,000 after purchasing an additional 26,803 shares during the period. Finally, Emerald Advisers LLC increased its stake in shares of Arlo Technologies by 116.9% in the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after purchasing an additional 898,167 shares in the last quarter. 83.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ARLO has been the subject of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Thursday, April 24th. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $10.07 on Friday. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64. The firm has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $11.16. The company has a market cap of $1.03 billion, a P/E ratio of -40.28 and a beta of 1.71.

Insider Buying and Selling

In other news, CEO Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the completion of the sale, the chief executive officer now owns 3,128,696 shares of the company’s stock, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Brian Busse sold 11,475 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $131,159.25. Following the completion of the transaction, the general counsel now directly owns 590,983 shares in the company, valued at approximately $6,754,935.69. This trade represents a 1.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 986,973 shares of company stock valued at $11,048,127. Insiders own 3.80% of the company’s stock.

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.