Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 12,155 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the sale, the chief financial officer now owns 837,906 shares in the company, valued at $9,635,919. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Arlo Technologies Trading Down 3.6 %

NYSE:ARLO opened at $11.84 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of -47.34 and a beta of 1.66. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The firm’s 50 day moving average is $11.67 and its 200 day moving average is $11.68.

Analysts Set New Price Targets

ARLO has been the subject of several research reports. Craig Hallum increased their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. BWS Financial restated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARLO. Smartleaf Asset Management LLC grew its stake 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 worth $26,000 after acquiring an additional 1,191 shares during the period. Quest Partners LLC raised its holdings 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 acquiring an additional 1,882 shares during the period. KBC Group NV raised its holdings 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 acquiring an additional 3,185 shares during the period. Ieq Capital LLC purchased a new stake in shares of Arlo Technologies during the fourth quarter worth $121,000. Finally, Hennessy Advisors Inc. boosted its holdings in shares of Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after acquiring an additional 965 shares during the period. Institutional investors own 83.18% of the company’s stock.

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.