Arlo Technologies, Inc. (NYSE:ARLO) Stock Position Boosted by Needham Investment Management LLC

Needham Investment Management LLC lifted its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 29.1% in the third quarter, HoldingsChannel reports. The fund owned 1,265,000 shares of the company’s stock after purchasing an additional 285,000 shares during the quarter. Needham Investment Management LLC’s holdings in Arlo Technologies were worth $15,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC bought a new position in Arlo Technologies during the second quarter valued at about $33,000. Quest Partners LLC raised its holdings in shares of Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC boosted its holdings in Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after buying an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Arlo Technologies in the second quarter worth approximately $62,000. 83.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Arlo Technologies Trading Up 3.2 %

Shares of NYSE ARLO traded up $0.38 during mid-day trading on Tuesday, reaching $12.19. The company had a trading volume of 91,271 shares, compared to its average volume of 949,373. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64. The stock’s 50 day moving average is $11.42 and its 200-day moving average is $12.61.

Insider Activity at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s 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 completion of the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

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.