Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells $1,975,102.30 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 184,589 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the completion of the sale, the chief financial officer now directly owns 977,457 shares of the company’s stock, valued at approximately $10,458,789.90. This represents a 15.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Kurtis Joseph Binder also recently made the following trade(s):

• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total value of $139,782.50.

Arlo Technologies Stock Up 1.4 %

ARLO stock opened at $10.71 on Thursday. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64. The company has a market cap of $1.10 billion, a P/E ratio of -42.84 and a beta of 1.66. The business’s fifty day moving average is $11.50 and its 200-day moving average is $11.57.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th.

Hedge Funds Weigh In On Arlo Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after acquiring an additional 1,191 shares during the last quarter. Quest Partners LLC grew its holdings in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares during the period. KBC Group NV increased its stake in Arlo Technologies by 106.8% in the fourth 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 in the last quarter. Ieq Capital LLC acquired a new stake in Arlo Technologies in the fourth quarter worth $121,000. Finally, Hennessy Advisors Inc. raised its holdings in 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 purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.