Brandes Investment Partners LP Grows Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Brandes Investment Partners LP raised its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,732,547 shares of the company’s stock after buying an additional 375,903 shares during the period. Brandes Investment Partners LP owned about 5.71% of Arlo Technologies worth $64,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ARLO. Raymond James Financial Inc. purchased a new position in shares of Arlo Technologies during the fourth quarter worth $4,586,000. Swedbank AB boosted its holdings in Arlo Technologies by 37.5% in the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after purchasing an additional 300,000 shares during the period. Needham Investment Management LLC boosted its holdings in Arlo Technologies by 29.1% in the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after purchasing an additional 285,000 shares during the period. Wasatch Advisors LP boosted its holdings in Arlo Technologies by 7.1% in the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Arlo Technologies by 26.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock valued at $12,463,000 after purchasing an additional 216,870 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ARLO shares. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a report on Friday, February 28th.

Insider Activity

In other news, CEO Matthew Blake Mcrae sold 200,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,486,678 shares of the company’s stock, valued at approximately $27,452,925.12. The trade was a 7.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian Busse sold 6,593 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $75,819.50. Following the completion of the sale, the general counsel now directly owns 612,743 shares of the company’s stock, valued at $7,046,544.50. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 648,743 shares of company stock valued at $7,503,028. Insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Performance

Arlo Technologies stock opened at $10.65 on Friday. Arlo Technologies, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $17.64. The company has a market capitalization of $1.09 billion, a P/E ratio of -42.58 and a beta of 1.66. The stock has a 50-day simple moving average of $11.63 and a 200-day simple moving average of $11.62.

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.