Raymond James Financial Inc. Takes Position in Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James Financial Inc. bought a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 409,798 shares of the company's stock, valued at approximately $4,586,000. Raymond James Financial Inc. owned 0.41% of Arlo Technologies at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Arlo Technologies by 234.5% during the 3rd quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after purchasing an additional 129,889 shares during the period. Sanctuary Advisors LLC boosted its holdings in Arlo Technologies by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock worth $555,000 after buying an additional 2,284 shares in the last quarter. Lord Abbett & CO. LLC grew its position 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 buying an additional 216,870 shares during the period. Amundi lifted its position in shares of Arlo Technologies by 163.1% during the 4th quarter. Amundi now owns 102,633 shares of the company's stock valued at $1,218,000 after acquiring an additional 63,622 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of Arlo Technologies during the 4th quarter valued at approximately $121,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew Blake Mcrae sold 259,227 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the sale, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian Busse sold 9,007 shares of the firm's 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 sale, the general counsel now directly owns 602,458 shares in the company, valued at approximately $7,024,660.28. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,017,441 shares of company stock worth $11,448,097. 3.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ARLO shares. Roth Capital set a $22.00 price objective on Arlo Technologies in a research note on Friday, February 28th. BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Thursday, April 24th. Finally, Craig Hallum boosted their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th.

Arlo Technologies Stock Performance

ARLO stock traded up $0.01 on Tuesday, reaching $9.91. The company had a trading volume of 493,618 shares, compared to its average volume of 913,842. The company's fifty day moving average is $10.31 and its 200 day moving average is $11.18. The company has a market cap of $1.01 billion, a P/E ratio of -39.62 and a beta of 1.71. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64.

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.