Amundi Raises Position in Arlo Technologies, Inc. (NYSE:ARLO)

Amundi lifted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 163.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,633 shares of the company's stock after buying an additional 63,622 shares during the period. Amundi owned about 0.10% of Arlo Technologies worth $1,218,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock valued at $325,000 after buying an additional 907 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after buying an additional 965 shares in the last quarter. D.A. Davidson & CO. increased its stake in Arlo Technologies by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock worth $1,029,000 after purchasing an additional 1,018 shares during the period. Smartleaf Asset Management LLC increased its stake in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares during the period. Finally, Quest Partners LLC increased its stake in Arlo Technologies by 283.0% in 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. 83.18% of the stock is owned by hedge funds and other institutional investors.

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Arlo Technologies Stock Down 2.0 %

Shares of ARLO traded down $0.21 during mid-day trading on Friday, hitting $10.49. 1,425,322 shares of the company's stock traded hands, compared to its average volume of 881,497. Arlo Technologies, Inc. has a 1 year low of $9.92 and a 1 year high of $17.64. The firm has a market capitalization of $1.07 billion, a P/E ratio of -41.96 and a beta of 1.66. The business's 50-day moving average price is $11.54 and its 200-day moving average price is $11.58.

Insider Activity

In related news, CEO Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the sale, the chief executive officer now directly owns 2,945,905 shares in the company, valued at $35,439,237.15. The trade was a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian Busse sold 11,475 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 value of $131,159.25. Following the sale, the general counsel now owns 590,983 shares in the company, valued at $6,754,935.69. This represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 648,743 shares of company stock valued at $7,503,028. Company insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARLO. Craig Hallum lifted their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on 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.