Brian Busse Sells 17,669 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) General Counsel Brian Busse sold 17,669 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total value of $196,302.59. Following the completion of the transaction, the general counsel now owns 606,832 shares in the company, valued at $6,741,903.52. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Brian Busse also recently made the following trade(s):

• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total value of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52.

Arlo Technologies Stock Up 0.7 %

NYSE:ARLO traded up $0.09 on Monday, reaching $11.57. 301,202 shares of the company's stock were exchanged, compared to its average volume of 733,140. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -46.26 and a beta of 1.77. Arlo Technologies, Inc. has a 52-week low of $8.56 and a 52-week high of $17.64. The business has a fifty day moving average of $11.72 and a 200-day moving average of $11.72.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after purchasing an additional 1,191 shares in the last quarter. Quest Partners LLC increased its stake 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 during the period. GAMMA Investing LLC raised its holdings in Arlo Technologies by 35.7% in the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company's stock valued at $53,000 after acquiring an additional 1,160 shares in the last quarter. KBC Group NV raised its holdings in Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after acquiring an additional 3,185 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in Arlo Technologies in the fourth quarter worth approximately $121,000. Institutional investors and hedge funds own 83.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARLO. Craig Hallum decreased their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, November 8th. BWS Financial restated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th.

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.