Algert Global LLC Cuts Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Algert Global LLC lowered its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 22.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,931 shares of the company's stock after selling 57,931 shares during the quarter. Algert Global LLC owned about 0.20% of Arlo Technologies worth $2,445,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ARLO. Charles Schwab Investment Management Inc. boosted its position in shares of Arlo Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company's stock worth $12,551,000 after purchasing an additional 14,308 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Arlo Technologies in the third quarter worth approximately $612,000. Intech Investment Management LLC boosted its holdings in Arlo Technologies by 30.5% in the third quarter. Intech Investment Management LLC now owns 28,710 shares of the company's stock worth $348,000 after acquiring an additional 6,703 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Arlo Technologies by 25.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 783,851 shares of the company's stock valued at $9,492,000 after acquiring an additional 161,346 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Arlo Technologies during the third quarter valued at approximately $1,193,000. Institutional investors and hedge funds own 83.18% of the company's stock.

Wall Street Analyst Weigh In

ARLO has been the topic of a number of recent research reports. Craig Hallum cut their target price on Arlo Technologies from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, November 8th. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. The trade was a 0.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company's stock.

Arlo Technologies Trading Down 6.4 %

Shares of NYSE:ARLO traded down $0.76 during mid-day trading on Wednesday, hitting $11.28. 1,018,052 shares of the company traded hands, compared to its average volume of 952,888. The stock has a market cap of $1.13 billion, a P/E ratio of -48.16 and a beta of 1.78. The stock has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $12.62. Arlo Technologies, Inc. has a 12-month low of $8.33 and a 12-month high of $17.64.

Arlo Technologies Company 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.