Arlo Technologies (NYSE:ARLO) Sees Large Volume Increase on Analyst Upgrade

Shares of Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) saw unusually-high trading volume on Monday after Craig Hallum raised their price target on the stock from $15.00 to $17.00. Craig Hallum currently has a buy rating on the stock. Approximately 573,586 shares changed hands during trading, a decline of 25% from the previous session's volume of 766,187 shares.The stock last traded at $13.82 and had previously closed at $14.38.

Separately, BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the transaction, the chief executive officer now directly owns 3,128,696 shares of the company's stock, valued at $35,760,995.28. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction 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 approximately $7,024,660.28. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,333 shares of company stock worth $1,656,923. Insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of Arlo Technologies by 28.6% in the 4th quarter. Mackenzie Financial Corp now owns 80,397 shares of the company's stock worth $900,000 after buying an additional 17,892 shares during the last quarter. AWM Investment Company Inc. boosted its position in Arlo Technologies by 168.3% in the fourth quarter. AWM Investment Company Inc. now owns 334,166 shares of the company's stock worth $3,739,000 after purchasing an additional 209,596 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Arlo Technologies by 47.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company's stock worth $1,985,000 after purchasing an additional 56,799 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Arlo Technologies by 38.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company's stock valued at $16,503,000 after purchasing an additional 409,489 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Arlo Technologies by 213.0% during the 4th quarter. Squarepoint Ops LLC now owns 178,672 shares of the company's stock valued at $1,999,000 after purchasing an additional 121,582 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Stock Performance

The stock has a 50 day moving average price of $11.63 and a 200 day moving average price of $11.68. The company has a market capitalization of $1.22 billion, a P/E ratio of -48.60 and a beta of 1.77.

Arlo Technologies Company 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.