Raymond James Financial Inc. Buys New Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James Financial Inc. purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 409,798 shares of the company's stock, valued at approximately $4,586,000. Raymond James Financial Inc. owned 0.41% of Arlo Technologies as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System grew its holdings in Arlo Technologies by 3.2% in the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock valued at $325,000 after purchasing an additional 907 shares during the last quarter. Hennessy Advisors Inc. boosted its position in shares of Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock worth $124,000 after buying an additional 965 shares in the last quarter. D.A. Davidson & CO. grew its stake in Arlo Technologies by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock valued at $1,029,000 after acquiring an additional 1,018 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after acquiring an additional 1,191 shares in the last quarter. Finally, Quest Partners LLC raised its position in 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 acquiring an additional 1,882 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company's stock.

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Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the sale, the chief financial officer now owns 837,906 shares in the company, valued at $9,635,919. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the transaction, the chief executive officer now directly owns 3,161,472 shares of the company's stock, valued at approximately $36,862,763.52. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,017,441 shares of company stock worth $11,448,097. Insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARLO. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum increased their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, BWS Financial reissued a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies Trading Down 1.8 %

Shares of NYSE ARLO traded down $0.19 during midday trading on Friday, reaching $10.28. 1,034,835 shares of the stock were exchanged, compared to its average volume of 909,860. The stock has a 50 day moving average price of $11.44 and a 200-day moving average price of $11.56. The company has a market capitalization of $1.05 billion, a P/E ratio of -41.12 and a beta of 1.66. Arlo Technologies, Inc. has a 52-week low of $9.92 and a 52-week 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.