Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 27,588 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of the transaction, the general counsel now owns 611,465 shares of the company’s stock, valued at $7,056,306.10. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Arlo Technologies Trading Up 8.1 %

NYSE ARLO traded up $0.96 on Tuesday, reaching $12.77. The company had a trading volume of 1,085,936 shares, compared to its average volume of 1,097,540. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64. The stock’s 50 day moving average is $11.42 and its 200-day moving average is $12.61.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Arlo Technologies by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 66,551 shares of the company’s stock worth $842,000 after purchasing an additional 3,242 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Arlo Technologies during the 1st quarter worth $421,000. GAMMA Investing LLC increased its stake in shares of Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after buying an additional 840 shares during the period. Harbor Capital Advisors Inc. boosted its position in Arlo Technologies by 78.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,661 shares of the company’s stock valued at $243,000 after acquiring an additional 8,216 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after acquiring an additional 1,778 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum cut their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock 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.