Emerald Advisers LLC Purchases 898,167 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Emerald Advisers LLC boosted its position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 116.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,666,482 shares of the company's stock after acquiring an additional 898,167 shares during the quarter. Emerald Advisers LLC owned 1.66% of Arlo Technologies worth $18,648,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARLO. Vanguard Group Inc. boosted its stake in shares of Arlo Technologies by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock valued at $109,902,000 after purchasing an additional 166,823 shares in the last quarter. Brandes Investment Partners LP boosted its position in Arlo Technologies by 7.0% in the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock valued at $64,147,000 after buying an additional 375,903 shares in the last quarter. State Street Corp grew its stake in shares of Arlo Technologies by 0.6% during the third quarter. State Street Corp now owns 4,269,561 shares of the company's stock worth $51,704,000 after buying an additional 26,492 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Arlo Technologies by 7.1% during the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company's stock worth $45,374,000 after buying an additional 247,160 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arlo Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company's stock valued at $26,554,000 after acquiring an additional 48,221 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 12,155 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $139,782.50. Following the transaction, the chief financial officer now owns 837,906 shares in the company, valued at $9,635,919. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $546,457.56. Following the sale, the chief executive officer now owns 3,161,472 shares of the company's stock, valued at approximately $36,862,763.52. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock worth $11,448,097 over the last ninety days. 3.80% of the stock is owned by insiders.

Arlo Technologies Price Performance

NYSE ARLO traded down $0.19 on Thursday, reaching $10.53. The company had a trading volume of 759,540 shares, compared to its average volume of 881,809. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -42.10 and a beta of 1.66. Arlo Technologies, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $17.64. The business has a 50 day moving average of $11.47 and a two-hundred day moving average of $11.56.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARLO. Craig Hallum boosted their price objective on 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 Arlo Technologies in a report on Friday, February 28th. Finally, BWS Financial reiterated a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a 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.