Vanguard Group Inc. Purchases 166,823 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Vanguard Group Inc. increased its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,821,417 shares of the company's stock after buying an additional 166,823 shares during the period. Vanguard Group Inc. owned 9.79% of Arlo Technologies worth $109,902,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ARLO. Smartleaf Asset Management LLC raised its stake in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares in the last quarter. KBC Group NV boosted its stake in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after buying an additional 3,185 shares during the period. Ieq Capital LLC bought a new stake in shares of Arlo Technologies during the 4th quarter valued at $121,000. Hennessy Advisors Inc. grew 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 worth $124,000 after purchasing an additional 965 shares in the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Arlo Technologies in the fourth quarter worth $129,000. Institutional investors and hedge funds own 83.18% of the company's stock.

Insider Activity at Arlo Technologies

In related news, General Counsel Brian Busse sold 9,007 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the company's 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 transaction, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at approximately $9,635,919. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,017,441 shares of company stock valued at $11,448,097. 3.80% of the stock is owned by insiders.

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Arlo Technologies Trading Up 0.4 %

Arlo Technologies stock traded up $0.03 during midday trading on Friday, reaching $8.86. The company's stock had a trading volume of 919,060 shares, compared to its average volume of 923,533. The stock has a market cap of $908.01 million, a PE ratio of -35.46 and a beta of 1.71. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.64. The business has a 50-day moving average price of $10.77 and a 200-day moving average price of $11.34.

Wall Street Analysts Forecast Growth

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