Swedbank AB Raises Position in Arlo Technologies, Inc. (NYSE:ARLO)

Swedbank AB raised its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200,000 shares of the company's stock after purchasing an additional 100,000 shares during the quarter. Swedbank AB owned approximately 1.20% of Arlo Technologies worth $13,428,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV lifted its stake in shares of Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after purchasing an additional 3,185 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of 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 buying an additional 965 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Arlo Technologies by 5.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company's stock worth $1,380,000 after buying an additional 6,818 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Arlo Technologies by 26.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock worth $12,463,000 after acquiring an additional 216,870 shares in the last quarter. Finally, Orion Capital Management LLC lifted its position in Arlo Technologies by 16.5% during the 3rd quarter. Orion Capital Management LLC now owns 45,160 shares of the company's stock valued at $547,000 after acquiring an additional 6,400 shares during the period. 83.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BWS Financial reaffirmed a "buy" rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum reduced their price objective on Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, November 8th.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 9,007 shares of the company'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 owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the transaction, the chief executive officer now directly owns 3,160,988 shares in the company, valued at $36,477,801.52. This trade represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 400,105 shares of company stock worth $4,623,916. Insiders own 3.80% of the company's stock.

Arlo Technologies Stock Performance

Shares of ARLO traded up $0.26 on Tuesday, hitting $11.49. 374,150 shares of the stock traded hands, compared to its average volume of 738,697. The company has a market capitalization of $1.15 billion, a PE ratio of -46.10 and a beta of 1.77. Arlo Technologies, Inc. has a one year low of $8.38 and a one year high of $17.64. The business has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $12.01.

Arlo Technologies Company 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.