Hillsdale Investment Management Inc. Sells 118,700 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Hillsdale Investment Management Inc. lessened its stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 251,282 shares of the company's stock after selling 118,700 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.25% of Arlo Technologies worth $2,812,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Quest Partners LLC grew its position in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company's stock worth $31,000 after buying an additional 1,882 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Arlo Technologies in the 3rd quarter worth about $1,193,000. Intech Investment Management LLC raised its stake in shares of Arlo Technologies by 30.5% in the 3rd quarter. Intech Investment Management LLC now owns 28,710 shares of the company's stock valued at $348,000 after purchasing an additional 6,703 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Arlo Technologies during the third quarter worth about $612,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Arlo Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company's stock worth $12,551,000 after purchasing an additional 14,308 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.

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Analysts Set New Price Targets

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

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 59,316 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value 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 approximately $35,760,995.28. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian Busse sold 26,258 shares of Arlo Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $280,960.60. Following the completion of the transaction, the general counsel now directly owns 636,485 shares in the company, valued at approximately $6,810,389.50. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,017,441 shares of company stock valued at $11,448,097. Company insiders own 3.80% of the company's stock.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.19 during midday trading on Thursday, reaching $10.53. The company had a trading volume of 759,540 shares, compared to its average volume of 881,409. The company has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $11.57. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -42.10 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64.

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.