Intech Investment Management LLC Grows Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Intech Investment Management LLC grew its position in Arlo Technologies, Inc. (NYSE:ARLO) by 116.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,208 shares of the company’s stock after buying an additional 33,498 shares during the quarter. Intech Investment Management LLC’s holdings in Arlo Technologies were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC increased its stake in Arlo Technologies by 283.0% during the third 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. Landscape Capital Management L.L.C. purchased a new stake in Arlo Technologies during the 3rd quarter worth approximately $612,000. Charles Schwab Investment Management Inc. lifted its holdings in Arlo Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company’s stock worth $12,551,000 after buying an additional 14,308 shares in the last quarter. Swedbank AB boosted its position in Arlo Technologies by 37.5% in the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after buying an additional 300,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Arlo Technologies by 31.0% in the third quarter. The Manufacturers Life Insurance Company now owns 47,093 shares of the company’s stock worth $570,000 after acquiring an additional 11,149 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Trading Down 2.0 %

Arlo Technologies stock opened at $10.49 on Monday. The company has a fifty day simple moving average of $11.54 and a 200-day simple moving average of $11.58. The stock has a market cap of $1.07 billion, a P/E ratio of -41.96 and a beta of 1.66. Arlo Technologies, Inc. has a 12-month low of $9.92 and a 12-month high of $17.64.

Insider Buying and Selling at Arlo Technologies

In other news, General Counsel Brian Busse sold 11,475 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total value of $131,159.25. Following the completion of the transaction, the general counsel now owns 590,983 shares in the company, valued at approximately $6,754,935.69. This represents a 1.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the completion of the transaction, the chief executive officer now directly owns 3,161,472 shares in the company, valued at $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 648,743 shares of company stock worth $7,503,028 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

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