Hennessy Advisors Inc. Acquires 965 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Hennessy Advisors Inc. raised its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,052 shares of the company’s stock after acquiring an additional 965 shares during the period. Hennessy Advisors Inc.’s holdings in Arlo Technologies were worth $124,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in Arlo Technologies by 283.0% in 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 last quarter. GAMMA Investing LLC grew its position in shares of Arlo Technologies by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares during the period. Versor Investments LP bought a new stake in shares of Arlo Technologies in the 3rd quarter valued at about $178,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Arlo Technologies in the 2nd quarter valued at approximately $184,000. Finally, Blueshift Asset Management LLC bought a new position in Arlo Technologies during the 3rd quarter worth approximately $246,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARLO shares. Craig Hallum cut their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Insider Buying and Selling

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 transaction of $318,365.52. Following the completion of the transaction, the general counsel now owns 611,465 shares in the company, valued at approximately $7,056,306.10. This represents a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of 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. 3.80% of the stock is currently owned by company insiders.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $11.82 on Friday. Arlo Technologies, Inc. has a 52 week low of $8.38 and a 52 week high of $17.64. The company’s 50 day moving average price is $11.85 and its two-hundred day moving average price is $12.33. The company has a market capitalization of $1.19 billion, a P/E ratio of -47.29 and a beta of 1.77.

Arlo Technologies 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.