Short Interest in Arlo Technologies, Inc. (NYSE:ARLO) Drops By 8.5%

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 6,140,000 shares, a decline of 8.5% from the November 15th total of 6,710,000 shares. Based on an average daily volume of 842,300 shares, the short-interest ratio is presently 7.3 days.

Arlo Technologies Stock Performance

NYSE ARLO traded up $0.47 during trading on Monday, hitting $12.86. The stock had a trading volume of 84,782 shares, compared to its average volume of 942,627. The company has a market capitalization of $1.29 billion, a PE ratio of -49.56 and a beta of 1.79. Arlo Technologies has a 12 month low of $8.33 and a 12 month high of $17.64. The company's 50-day moving average price is $11.63 and its two-hundred day moving average price is $12.63.

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction 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. This represents a 0.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the completion of the sale, the chief executive officer now directly owns 3,160,988 shares of the company's stock, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,330 shares of company stock worth $4,057,187. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC grew its holdings in Arlo Technologies by 283.0% during the third 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. Chilton Capital Management LLC acquired a new position in shares of Arlo Technologies in the second quarter valued at $33,000. CWM LLC grew its stake in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company's stock valued at $49,000 after buying an additional 1,778 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company's stock worth $53,000 after purchasing an additional 1,160 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Arlo Technologies in the 2nd quarter valued at approximately $62,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARLO. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum reduced 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.

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.