Thompson Siegel & Walmsley LLC Trims Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Thompson Siegel & Walmsley LLC trimmed its position in Arlo Technologies, Inc. (NYSE:ARLO) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 444,211 shares of the company’s stock after selling 11,128 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.44% of Arlo Technologies worth $5,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARLO. Brandes Investment Partners LP raised its holdings in shares of Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after acquiring an additional 53,242 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Arlo Technologies by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after purchasing an additional 154,100 shares during the period. Engle Capital Management L.P. boosted its stake in shares of Arlo Technologies by 25.6% during the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after purchasing an additional 230,000 shares in the last quarter. Finally, Swedbank AB increased its holdings in Arlo Technologies by 37.5% during the third 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. Institutional investors own 83.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $11.89 on Friday. Arlo Technologies, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $17.64. The firm has a market capitalization of $1.19 billion, a PE ratio of -47.56 and a beta of 1.78. The stock’s 50-day simple moving average is $11.41 and its 200-day simple moving average is $12.66.

Analysts Set New Price Targets

ARLO has been the topic of several recent research reports. Craig Hallum dropped their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

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.