Guidance Capital Inc. Invests $465,000 in Arlo Technologies, Inc. (NYSE:ARLO)

Guidance Capital Inc. bought a new position in Arlo Technologies, Inc. (NYSE:ARLO) during the fourth quarter, Holdings Channel reports. The fund bought 39,313 shares of the company’s stock, valued at approximately $465,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Arlo Technologies by 0.6% in the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after buying an additional 26,492 shares in the last quarter. Rice Hall James & Associates LLC raised its position in shares of Arlo Technologies by 4.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after buying an additional 247,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arlo Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 shares during the last quarter. Finally, Needham Investment Management LLC lifted its stake in Arlo Technologies by 29.1% in the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after purchasing an additional 285,000 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arlo Technologies

In related news, General Counsel Brian Busse sold 27,588 shares of Arlo Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now directly owns 611,465 shares in the company, valued at $7,056,306.10. The trade was a 4.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the completion of the transaction, the chief executive officer now owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. This trade represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,105 shares of company stock worth $4,623,916. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $11.53 on Thursday. The company has a 50 day simple moving average of $11.86 and a 200-day simple moving average of $11.97. The company has a market capitalization of $1.16 billion, a P/E ratio of -46.14 and a beta of 1.77. Arlo Technologies, Inc. has a 1 year low of $8.38 and a 1 year high of $17.64.

Analyst Ratings Changes

A number of brokerages have commented on ARLO. Craig Hallum dropped their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a 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.