Geode Capital Management LLC Increases Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Geode Capital Management LLC boosted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,192,273 shares of the company's stock after purchasing an additional 48,221 shares during the quarter. Geode Capital Management LLC owned about 2.18% of Arlo Technologies worth $26,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System increased its stake in Arlo Technologies by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,577 shares of the company's stock worth $334,000 after buying an additional 871 shares in the last quarter. GAMMA Investing LLC raised its holdings in Arlo Technologies by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company's stock valued at $53,000 after buying an additional 1,160 shares during the period. Quest Partners LLC raised its holdings in Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company's stock valued at $31,000 after buying an additional 1,882 shares during the period. Louisiana State Employees Retirement System lifted its position in Arlo Technologies by 4.7% in the second quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company's stock worth $640,000 after buying an additional 2,200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arlo Technologies by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company's stock worth $302,000 after buying an additional 2,253 shares during the period. Hedge funds and other institutional investors own 83.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Craig Hallum reduced their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company in a report on Friday, November 8th. BWS Financial reiterated a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Stock Down 2.5 %

NYSE ARLO traded down $0.30 on Friday, reaching $11.47. The stock had a trading volume of 411,127 shares, compared to its average volume of 942,709. The stock has a fifty day moving average price of $11.72 and a two-hundred day moving average price of $12.51. Arlo Technologies, Inc. has a 12-month low of $8.33 and a 12-month high of $17.64. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -45.88 and a beta of 1.79.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the completion of the sale, the chief executive officer now directly owns 3,160,988 shares of the company's stock, valued at $36,477,801.52. This represents a 9.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Busse sold 27,588 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the sale, the general counsel now owns 611,465 shares of the company's stock, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,330 shares of company stock worth $4,057,187 over the last three months. 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.