Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells $139,782.50 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 12,155 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following the completion of the transaction, the chief financial officer now directly owns 837,906 shares of the company’s stock, valued at approximately $9,635,919. This represents a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Arlo Technologies Stock Performance

ARLO stock opened at $12.25 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of -48.98 and a beta of 1.66. The firm’s fifty day moving average is $11.65 and its 200 day moving average is $11.68. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARLO. Emerald Advisers LLC grew its position in Arlo Technologies by 116.9% during the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock valued at $18,648,000 after buying an additional 898,167 shares during the period. Wasatch Advisors LP grew its position in shares of Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Arlo Technologies in the fourth quarter valued at about $4,586,000. Westwood Holdings Group Inc. grew its position in shares of Arlo Technologies by 38.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock valued at $16,503,000 after purchasing an additional 409,489 shares during the period. Finally, Brandes Investment Partners LP grew its position in shares of Arlo Technologies by 7.0% in the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARLO. Craig Hallum raised their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, February 28th.

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.