Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 11,475 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 11,475 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total value of $131,159.25. Following the sale, the general counsel now directly owns 590,983 shares of the company’s stock, valued at approximately $6,754,935.69. This represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Brian Busse also recently made the following trade(s):

• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total value of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52.

Arlo Technologies Stock Performance

NYSE ARLO traded down $0.20 on Friday, hitting $11.18. The stock had a trading volume of 535,247 shares, compared to its average volume of 753,882. The firm has a 50-day moving average of $11.86 and a 200-day moving average of $11.97. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -44.72 and a beta of 1.77. Arlo Technologies, Inc. has a 52-week low of $8.53 and a 52-week high of $17.64.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently added to or reduced their stakes in ARLO. Smartleaf Asset Management LLC raised its holdings in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. Quest Partners LLC boosted its position 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 buying an additional 1,882 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after purchasing an additional 1,160 shares during the period. KBC Group NV raised its position in Arlo Technologies by 106.8% during 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 last quarter. Finally, Ieq Capital LLC purchased a new stake in Arlo Technologies in the 4th quarter worth approximately $121,000. Institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ARLO has been the topic of several recent research reports. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum dropped their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

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.