Wasatch Advisors LP Boosts Position in Arlo Technologies, Inc. (NYSE:ARLO)

Wasatch Advisors LP increased its stake in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 21.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,537,333 shares of the company's stock after purchasing an additional 790,549 shares during the quarter. Wasatch Advisors LP owned 4.52% of Arlo Technologies worth $50,773,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ARLO. Barclays PLC grew its holdings in shares of 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 acquiring an additional 129,889 shares during the period. Sanctuary Advisors LLC increased its position in shares of Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after purchasing an additional 2,284 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of 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 last quarter. Amundi grew its position in Arlo Technologies by 163.1% during the fourth quarter. Amundi now owns 102,633 shares of the company's stock valued at $1,218,000 after buying an additional 63,622 shares during the period. Finally, Ieq Capital LLC purchased a new stake in Arlo Technologies during the fourth quarter valued at approximately $121,000. Institutional investors own 83.18% of the company's stock.

Arlo Technologies Price Performance

Shares of NYSE:ARLO traded up $0.05 during trading on Friday, hitting $9.21. 506,070 shares of the company's stock were exchanged, compared to its average volume of 921,648. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The business's 50-day simple moving average is $10.55 and its 200 day simple moving average is $11.25. The company has a market cap of $942.94 million, a price-to-earnings ratio of -36.82 and a beta of 1.71.

Insiders Place Their Bets

In related news, CEO Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $12.03, for a total value of $3,118,500.81. Following the completion of the transaction, the chief executive officer now owns 2,945,905 shares in the company, valued at approximately $35,439,237.15. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 26,258 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the sale, the general counsel now owns 636,485 shares in the company, valued at approximately $6,810,389.50. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,441 shares of company stock valued at $11,448,097 in the last quarter. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ARLO has been the subject of a number of recent research reports. BWS Financial restated a "buy" rating and issued 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 objective on Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum increased their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th.

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.