Lord Abbett & CO. LLC Has $12.46 Million Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Lord Abbett & CO. LLC lifted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 26.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,029,209 shares of the company’s stock after acquiring an additional 216,870 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Arlo Technologies were worth $12,463,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC lifted its position in shares of 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. Chilton Capital Management LLC acquired a new position in Arlo Technologies in the second quarter valued at about $33,000. CWM LLC lifted its position 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 purchasing an additional 1,778 shares during the period. GAMMA Investing LLC grew its stake in Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Arlo Technologies in the 2nd quarter valued at about $62,000. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Trading Up 3.7 %

Shares of Arlo Technologies stock opened at $12.85 on Tuesday. The firm’s 50 day moving average is $11.63 and its 200 day moving average is $12.63. The firm has a market capitalization of $1.29 billion, a PE ratio of -51.40 and a beta of 1.79. Arlo Technologies, Inc. has a 1 year low of $8.33 and a 1 year high of $17.64.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of the transaction, the general counsel now directly owns 611,465 shares in the company, valued at approximately $7,056,306.10. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,330 shares of company stock valued at $4,057,187. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARLO shares. Craig Hallum reduced their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th.

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.