Guidance Capital Inc. Takes $465,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

Guidance Capital Inc. purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,313 shares of the company's stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors have also modified their holdings of ARLO. Swedbank AB lifted its stake in Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company's stock worth $13,428,000 after acquiring an additional 100,000 shares in the last quarter. KBC Group NV lifted 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 worth $69,000 after purchasing an additional 3,185 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after purchasing an additional 965 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Arlo Technologies by 5.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company's stock valued at $1,380,000 after purchasing an additional 6,818 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock worth $12,463,000 after buying an additional 216,870 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ARLO. BWS Financial reissued a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum decreased their target price on Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company in a report on Friday, November 8th.

Arlo Technologies Trading Down 1.8 %

NYSE ARLO traded down $0.20 on Friday, hitting $11.18. 535,247 shares of the stock were exchanged, compared to its average volume of 733,140. Arlo Technologies, Inc. has a fifty-two week low of $8.53 and a fifty-two week high of $17.64. The company has a 50-day moving average price of $11.86 and a 200-day moving average price of $11.94.

Insider Transactions at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 316,644 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the transaction, the chief executive officer now owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the sale, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 470,896 shares of company stock valued at $5,433,058. Insiders own 3.80% of the company's stock.

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.