Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells $196,302.59 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 17,669 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total value of $196,302.59. Following the completion of the transaction, the general counsel now directly owns 606,832 shares in the company, valued at $6,741,903.52. This trade represents a 2.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total value of $131,159.25.
• 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 value of $318,365.52.

Arlo Technologies Price Performance

NYSE ARLO opened at $11.57 on Friday. The stock has a market capitalization of $1.16 billion, a PE ratio of -46.26 and a beta of 1.77. The business has a 50 day simple moving average of $11.75 and a two-hundred day simple moving average of $11.76. Arlo Technologies, Inc. has a 1-year low of $8.56 and a 1-year high of $17.64.

Hedge Funds Weigh In On Arlo Technologies

Several institutional investors have recently added to or reduced their stakes in ARLO. The Manufacturers Life Insurance Company lifted its stake in shares of Arlo Technologies by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock worth $469,000 after acquiring an additional 2,912 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Arlo Technologies during the 3rd quarter worth approximately $481,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after acquiring an additional 1,160 shares during the last quarter. Swedbank AB lifted its stake in shares of Arlo Technologies by 37.5% during the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Arlo Technologies by 15.4% during the 3rd quarter. Raymond James & Associates now owns 415,506 shares of the company’s stock worth $5,032,000 after acquiring an additional 55,580 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the subject of several research analyst reports. 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 report on Friday, November 8th. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report 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.