Royce & Associates LP Sells 214,360 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Royce & Associates LP lessened its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,407,630 shares of the company's stock after selling 214,360 shares during the period. Royce & Associates LP owned approximately 1.41% of Arlo Technologies worth $17,046,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ARLO. Texas Permanent School Fund Corp increased its stake in Arlo Technologies by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company's stock worth $1,048,000 after acquiring an additional 1,106 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Arlo Technologies during the 1st quarter valued at $190,000. ProShare Advisors LLC lifted its position in Arlo Technologies by 7.3% in the first quarter. ProShare Advisors LLC now owns 18,158 shares of the company's stock worth $230,000 after buying an additional 1,241 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Arlo Technologies during the first quarter worth $8,282,000. Finally, Jupiter Asset Management Ltd. bought a new position in Arlo Technologies during the first quarter valued at $885,000. Hedge funds and other institutional investors own 83.18% of the company's stock.

Arlo Technologies Trading Down 1.9 %

Shares of NYSE ARLO traded down $0.22 during mid-day trading on Friday, reaching $11.18. The company had a trading volume of 729,347 shares, compared to its average volume of 958,205. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64. The business's 50-day moving average is $11.38 and its 200-day moving average is $12.68. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -44.72 and a beta of 1.78.

Insider Buying and Selling at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares of the company's stock, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ARLO has been the subject of several analyst reports. Roth Mkm raised their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. BWS Financial restated a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Finally, Craig Hallum cut their target price on Arlo Technologies from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, November 8th.

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.