Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 9,007 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) General Counsel Brian Busse sold 9,007 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares in the company, valued at approximately $7,024,660.28. This represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total value of $318,365.52.

Arlo Technologies Trading Down 3.4 %

Shares of NYSE:ARLO traded down $0.40 during mid-day trading on Monday, reaching $11.32. The stock had a trading volume of 397,041 shares, compared to its average volume of 742,899. The firm has a 50 day simple moving average of $11.88 and a two-hundred day simple moving average of $12.05. Arlo Technologies, Inc. has a twelve month low of $8.38 and a twelve month high of $17.64. The firm has a market cap of $1.14 billion, a PE ratio of -45.34 and a beta of 1.77.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARLO. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum dropped their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, November 8th.

Institutional Trading of Arlo Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Swedbank AB boosted its holdings in Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company's stock worth $13,321,000 after purchasing an additional 300,000 shares during the last quarter. Needham Investment Management LLC grew its holdings in shares of Arlo Technologies by 29.1% in the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company's stock valued at $15,319,000 after acquiring an additional 285,000 shares in the last quarter. Wasatch Advisors LP increased its position in shares of 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 during the last quarter. Lord Abbett & CO. LLC raised its holdings in Arlo Technologies by 26.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock worth $12,463,000 after acquiring an additional 216,870 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company's stock valued at $49,281,000 after purchasing an additional 191,536 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.

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.