Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 26.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 991,253 shares of the company's stock after buying an additional 207,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Arlo Technologies worth $11,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ARLO. State Street Corp grew its position in shares of Arlo Technologies by 0.6% in the 3rd 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 boosted its stake in Arlo Technologies by 7.1% in the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company's stock valued at $45,374,000 after acquiring an additional 247,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arlo Technologies by 2.2% in 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 increased its position in shares of 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 in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company's stock valued at $13,428,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.

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Arlo Technologies Stock Up 2.2 %

Shares of Arlo Technologies stock traded up $0.24 on Wednesday, reaching $10.84. 955,186 shares of the stock were exchanged, compared to its average volume of 882,466. The business has a 50 day moving average price of $11.61 and a two-hundred day moving average price of $11.60. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -43.34 and a beta of 1.66. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $11.04, for a total transaction of $2,208,000.00. Following the completion of the transaction, the chief executive officer now owns 2,486,678 shares in the company, valued at approximately $27,452,925.12. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian Busse sold 6,593 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $75,819.50. Following the completion of the sale, the general counsel now owns 612,743 shares in the company, valued at $7,046,544.50. The trade was a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 648,743 shares of company stock valued at $7,503,028. 3.80% of the stock is owned by insiders.

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.