Arlo Technologies, Inc. (NYSE:ARLO) Shares Acquired by Swedbank AB

Swedbank AB increased its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,000 shares of the company's stock after acquiring an additional 300,000 shares during the quarter. Swedbank AB owned about 1.10% of Arlo Technologies worth $13,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quest Partners LLC raised its stake in Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company's stock valued at $31,000 after acquiring an additional 1,882 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Arlo Technologies during the second quarter worth $33,000. GAMMA Investing LLC grew its position in Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company's stock valued at $42,000 after buying an additional 840 shares during the last quarter. CWM LLC raised its position in Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company's stock worth $49,000 after buying an additional 1,778 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Arlo Technologies in the 2nd quarter worth $62,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

ARLO stock traded down $0.43 during trading on Wednesday, reaching $11.61. 339,809 shares of the company were exchanged, compared to its average volume of 949,862. The stock's 50 day moving average price is $11.44 and its 200 day moving average price is $12.62. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The company has a market cap of $1.16 billion, a P/E ratio of -48.16 and a beta of 1.78.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARLO shares. BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum cut their target price on Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company 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.