Intech Investment Management LLC Buys 33,498 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Intech Investment Management LLC lifted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 116.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,208 shares of the company's stock after purchasing an additional 33,498 shares during the period. Intech Investment Management LLC owned 0.06% of Arlo Technologies worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Arlo Technologies by 234.5% during the third quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after purchasing an additional 129,889 shares during the period. Sanctuary Advisors LLC increased its stake in Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock worth $555,000 after acquiring an additional 2,284 shares during the period. Lord Abbett & CO. LLC raised its holdings in Arlo Technologies by 26.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock valued at $12,463,000 after acquiring an additional 216,870 shares in the last quarter. Amundi lifted its position in shares of Arlo Technologies by 163.1% during the 4th quarter. Amundi now owns 102,633 shares of the company's stock valued at $1,218,000 after acquiring an additional 63,622 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of Arlo Technologies during the 4th quarter worth $121,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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Arlo Technologies Price Performance

NYSE:ARLO traded down $0.19 during trading hours on Thursday, hitting $10.53. The company's stock had a trading volume of 759,540 shares, compared to its average volume of 881,409. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64. The stock has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $11.57. The company has a market capitalization of $1.08 billion, a P/E ratio of -42.10 and a beta of 1.66.

Insider Activity

In other news, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $546,457.56. Following the completion of the transaction, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. This represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,975,102.30. Following the sale, the chief financial officer now directly owns 977,457 shares in the company, valued at approximately $10,458,789.90. This trade represents a 15.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,017,441 shares of company stock worth $11,448,097. Corporate insiders own 3.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ARLO. Craig Hallum upped their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a report on Friday, February 28th. Finally, BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report 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.