Invesco Ltd. Trims Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Invesco Ltd. lowered its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 351,555 shares of the company's stock after selling 64,400 shares during the quarter. Invesco Ltd. owned about 0.35% of Arlo Technologies worth $3,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System lifted its position in Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock valued at $325,000 after acquiring an additional 907 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after purchasing an additional 965 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock valued at $1,029,000 after purchasing an additional 1,018 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after buying an additional 2,284 shares in the last quarter. Institutional investors own 83.18% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Arlo Technologies

In related news, 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 transaction of $105,021.62. Following the completion of the sale, the general counsel now owns 602,458 shares in the company, valued at approximately $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 157,851 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70. Following the sale, the chief executive officer now owns 2,558,425 shares of the company's stock, valued at approximately $27,375,147.50. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock worth $11,448,097 over the last three months. 3.80% of the stock is currently owned by company insiders.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $9.92 on Monday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -39.68 and a beta of 1.71. The business has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $11.19. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64.

About Arlo Technologies

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.

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