Royce & Associates LP Sells 214,360 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Royce & Associates LP lessened its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,407,630 shares of the company’s stock after selling 214,360 shares during the quarter. Royce & Associates LP’s holdings in Arlo Technologies were worth $17,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ARLO. Texas Permanent School Fund Corp lifted its position in shares of Arlo Technologies by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock worth $1,048,000 after buying an additional 1,106 shares during the period. SG Americas Securities LLC acquired a new stake in Arlo Technologies during the 1st quarter valued at $190,000. ProShare Advisors LLC increased its holdings in Arlo Technologies by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock valued at $230,000 after purchasing an additional 1,241 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Arlo Technologies during the 1st quarter valued at $8,282,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Arlo Technologies during the 1st quarter valued at $885,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 1.9 %

Shares of Arlo Technologies stock opened at $11.18 on Friday. The business has a fifty day simple moving average of $11.38 and a 200 day simple moving average of $12.68. The stock has a market cap of $1.12 billion, a PE ratio of -44.72 and a beta of 1.78. Arlo Technologies, Inc. has a 12 month low of $8.33 and a 12 month high of $17.64.

Analyst Upgrades and Downgrades

ARLO has been the subject of several research reports. Craig Hallum lowered 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. BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Finally, Roth Mkm lifted their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insiders Place Their Bets

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

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.