Brandes Investment Partners LP increased its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,732,547 shares of the company's stock after buying an additional 375,903 shares during the quarter. Brandes Investment Partners LP owned about 5.71% of Arlo Technologies worth $64,147,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in 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 purchasing an additional 26,492 shares during the last quarter. Wasatch Advisors LP lifted its stake in 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 purchasing an additional 247,160 shares during the last quarter. Geode Capital Management LLC lifted its stake in Arlo Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company's stock worth $26,554,000 after purchasing an additional 48,221 shares during the last quarter. Needham Investment Management LLC lifted its stake in Arlo Technologies by 29.1% during the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company's stock worth $15,319,000 after purchasing an additional 285,000 shares during the last quarter. Finally, Swedbank AB lifted its stake in Arlo Technologies by 9.1% during the fourth quarter. Swedbank AB now owns 1,200,000 shares of the company's stock worth $13,428,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.
Arlo Technologies Stock Performance
Shares of ARLO traded up $0.24 during trading hours on Wednesday, reaching $10.84. The stock had a trading volume of 1,038,886 shares, compared to its average volume of 882,800. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The stock has a market capitalization of $1.11 billion, a PE ratio of -43.34 and a beta of 1.66. The company's 50-day moving average is $11.61 and its two-hundred day moving average is $11.60.
Insider Buying and Selling
In related news, General Counsel Brian Busse sold 9,007 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the transaction, the general counsel now directly owns 602,458 shares of the company's stock, valued at $7,024,660.28. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 200,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company's stock, valued at approximately $27,452,925.12. The trade was a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 648,743 shares of company stock valued at $7,503,028 in the last three months. Insiders own 3.80% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. BWS Financial restated a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a research note on Friday, February 28th.
Get Our Latest Analysis on ARLO
About Arlo Technologies
(
Free Report)
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.
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