Royce & Associates LP Buys 229,450 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Royce & Associates LP lifted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,637,080 shares of the company's stock after purchasing an additional 229,450 shares during the period. Royce & Associates LP owned 1.63% of Arlo Technologies worth $18,319,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after buying an additional 129,889 shares during the period. Sanctuary Advisors LLC lifted its holdings in Arlo Technologies by 5.0% in 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 during the period. Lord Abbett & CO. LLC lifted its holdings in Arlo Technologies by 26.7% in 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. Mutual of America Capital Management LLC lifted its holdings in Arlo Technologies by 18.0% in the third quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company's stock worth $8,674,000 after buying an additional 109,200 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Arlo Technologies during the fourth quarter valued at approximately $121,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

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Arlo Technologies Stock Performance

Shares of ARLO traded down $0.20 on Thursday, hitting $10.68. 1,309,708 shares of the stock traded hands, compared to its average volume of 882,456. The company has a market capitalization of $1.09 billion, a PE ratio of -42.70 and a beta of 1.66. The business has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $11.59. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64.

Insider Activity at Arlo Technologies

In related news, General Counsel Brian Busse sold 9,007 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company's stock, valued at $7,024,660.28. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50. Following the sale, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at $9,635,919. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 648,743 shares of company stock valued at $7,503,028 over the last 90 days. Corporate insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.