Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 11.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 189,498 shares of the company's stock after selling 25,396 shares during the quarter. Essex Investment Management Co. LLC owned about 0.19% of Arlo Technologies worth $2,120,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Versor Investments LP acquired a new position in Arlo Technologies during the third quarter worth about $178,000. GSA Capital Partners LLP purchased a new position in shares of Arlo Technologies in the third quarter valued at $1,309,000. Mutual of America Capital Management LLC raised its stake in shares of Arlo Technologies by 18.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company's stock worth $8,674,000 after buying an additional 109,200 shares during the last quarter. Quest Partners LLC grew its stake in Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company's stock valued at $31,000 after acquiring an additional 1,882 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Arlo Technologies during the third quarter worth about $1,193,000. Institutional investors and hedge funds own 83.18% of the company's stock.

Arlo Technologies Stock Up 1.2 %

Shares of ARLO traded up $0.13 during mid-day trading on Tuesday, hitting $11.10. The company had a trading volume of 663,693 shares, compared to its average volume of 889,980. Arlo Technologies, Inc. has a 1-year low of $9.02 and a 1-year high of $17.64. The business's 50-day simple moving average is $11.67 and its 200-day simple moving average is $11.66. The stock has a market cap of $1.14 billion, a PE ratio of -44.36 and a beta of 1.66.

Remove Ads

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. BWS Financial reissued a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum upped their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th.

Insider Activity

In other Arlo Technologies news, General Counsel Brian Busse sold 6,593 shares of the firm'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 transaction, the general counsel now directly owns 612,743 shares of the company's stock, valued at $7,046,544.50. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the sale, the chief financial officer now owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 648,743 shares of company stock valued at $7,503,028 in the last ninety days. Company insiders own 3.80% of the company's stock.

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.