Public Sector Pension Investment Board Has $6.90 Million Stock Holdings in Arlo Technologies, Inc. $ARLO

Public Sector Pension Investment Board grew its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 15.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 407,092 shares of the company’s stock after buying an additional 54,621 shares during the quarter. Public Sector Pension Investment Board’s holdings in Arlo Technologies were worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP grew its stake in shares of Arlo Technologies by 30.1% in the second quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock valued at $79,354,000 after acquiring an additional 1,082,443 shares in the last quarter. Divisadero Street Capital Management LP raised its stake in Arlo Technologies by 778.6% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock worth $19,520,000 after purchasing an additional 1,019,945 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Arlo Technologies by 115.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock valued at $15,325,000 after purchasing an additional 830,770 shares during the period. Marshall Wace LLP grew its position in shares of Arlo Technologies by 110.3% during the 2nd quarter. Marshall Wace LLP now owns 1,510,603 shares of the company’s stock worth $25,620,000 after purchasing an additional 792,294 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Arlo Technologies by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,374,399 shares of the company’s stock worth $23,310,000 after purchasing an additional 266,847 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARLO. Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. BWS Financial restated a “buy” rating and issued a $26.00 price target on shares of Arlo Technologies in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Arlo Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Activity at Arlo Technologies

In other news, General Counsel Brian Busse sold 31,407 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total value of $385,992.03. Following the sale, the general counsel directly owned 552,850 shares in the company, valued at approximately $6,794,526.50. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 55,043 shares of Arlo Technologies stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $13.69, for a total transaction of $753,538.67. Following the sale, the chief financial officer directly owned 460,970 shares in the company, valued at $6,310,679.30. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 684,286 shares of company stock valued at $9,202,544 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $11.67 on Wednesday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The stock’s fifty day moving average price is $13.33 and its two-hundred day moving average price is $15.54. The company has a market cap of $1.24 billion, a PE ratio of 389.13 and a beta of 1.66.

Arlo Technologies Profile

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.