KLP Kapitalforvaltning AS Takes Position in Arlo Technologies, Inc. (NYSE:ARLO)

KLP Kapitalforvaltning AS purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,500 shares of the company's stock, valued at approximately $431,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after acquiring an additional 1,191 shares in the last quarter. KBC Group NV grew its position in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company's stock worth $69,000 after acquiring an additional 3,185 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Arlo Technologies in the 4th quarter worth about $121,000. Hennessy Advisors Inc. boosted its stake in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after purchasing an additional 965 shares during the period. Finally, Balboa Wealth Partners bought a new position in Arlo Technologies in the 4th quarter worth about $129,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Price Performance

Shares of NYSE ARLO traded up $1.06 during mid-day trading on Wednesday, reaching $9.47. 1,142,026 shares of the company traded hands, compared to its average volume of 921,753. Arlo Technologies, Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $17.64. The stock has a fifty day simple moving average of $10.96 and a 200-day simple moving average of $11.41. The firm has a market cap of $970.09 million, a PE ratio of -37.88 and a beta of 1.71.

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Wall Street Analyst Weigh In

ARLO has been the subject of several analyst reports. Roth Capital set a $22.00 price objective on Arlo Technologies in a research report on Friday, February 28th. BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th.

Insiders Place Their Bets

In related news, CFO Kurtis Joseph Binder sold 184,589 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total value of $1,975,102.30. Following the completion of the transaction, the chief financial officer now owns 977,457 shares in the company, valued at $10,458,789.90. This trade represents a 15.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the completion of the transaction, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,017,441 shares of company stock worth $11,448,097. 3.80% of the stock is owned by corporate insiders.

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.