Trexquant Investment LP Raises Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Trexquant Investment LP lifted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 105.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,129 shares of the company's stock after acquiring an additional 200,667 shares during the quarter. Trexquant Investment LP owned 0.39% of Arlo Technologies worth $4,377,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $12,551,000 after acquiring an additional 14,308 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Arlo Technologies by 31.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,093 shares of the company's stock worth $570,000 after purchasing an additional 11,149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Arlo Technologies by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company's stock valued at $302,000 after buying an additional 2,253 shares during the period. State Street Corp boosted its holdings in Arlo Technologies by 0.6% in the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company's stock valued at $51,704,000 after purchasing an additional 26,492 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Arlo Technologies during the third quarter valued at $386,000. 83.18% of the stock is currently owned by institutional investors.

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Arlo Technologies Price Performance

NYSE:ARLO traded down $0.56 during mid-day trading on Thursday, reaching $8.87. 268,785 shares of the company's stock traded hands, compared to its average volume of 939,489. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.64. The firm has a market capitalization of $908.63 million, a price-to-earnings ratio of -35.57 and a beta of 1.71. The company has a 50 day moving average price of $10.88 and a 200-day moving average price of $11.38.

Insiders Place Their Bets

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 184,589 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the completion of the sale, the chief financial officer now directly owns 977,457 shares in the company, valued at $10,458,789.90. The trade was a 15.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the sale, the general counsel now owns 602,458 shares of the company's stock, valued at $7,024,660.28. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,017,441 shares of company stock worth $11,448,097. 3.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Craig Hallum raised their price target on Arlo Technologies from $15.00 to $17.00 and gave the company 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 research note on Friday, February 28th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies 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.