Arlo Technologies (NYSE:ARLO) Trading Up 6.9% – Still a Buy?

Arlo Technologies, Inc. (NYSE:ARLO)’s stock price was up 6.9% during trading on Tuesday . The company traded as high as $12.63 and last traded at $12.63. Approximately 578,136 shares traded hands during trading, a decline of 39% from the average daily volume of 951,357 shares. The stock had previously closed at $11.81.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARLO shares. Craig Hallum decreased their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Arlo Technologies Trading Down 0.9 %

The company’s 50 day moving average price is $11.46 and its 200 day moving average price is $12.62.

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 316,644 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the completion of the transaction, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at $36,477,801.52. This trade represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,330 shares of company stock worth $4,057,187. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Chilton Capital Management LLC purchased a new position in Arlo Technologies in the second quarter valued at $33,000. 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 buying an additional 1,882 shares in the last quarter. GAMMA Investing LLC increased its holdings in Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after buying an additional 840 shares in the last quarter. CWM LLC increased its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Arlo Technologies in the second quarter valued at $62,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.