Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 6,593 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 6,593 shares of Arlo Technologies stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the completion of the sale, the general counsel now owns 612,743 shares in the company, valued at approximately $7,046,544.50. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Brian Busse also recently made the following trade(s):

• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59.
• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The shares were sold at an average price of $11.43, for a total transaction of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62.

Arlo Technologies Stock Down 3.6 %

Shares of NYSE:ARLO opened at $11.84 on Friday. Arlo Technologies, Inc. has a 52 week low of $9.92 and a 52 week high of $17.64. The stock has a market capitalization of $1.21 billion, a P/E ratio of -47.34 and a beta of 1.66. The firm has a fifty day simple moving average of $11.67 and a two-hundred day simple moving average of $11.68.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in ARLO. Smartleaf Asset Management LLC grew its stake in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares in the last quarter. Quest Partners LLC boosted its stake 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 worth $31,000 after purchasing an additional 1,882 shares during the period. KBC Group NV boosted its stake in shares of Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after purchasing an additional 3,185 shares during the period. Ieq Capital LLC purchased a new position in shares of Arlo Technologies during the 4th quarter worth about $121,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.