Lord Abbett & CO. LLC Has $12.46 Million Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Lord Abbett & CO. LLC boosted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,029,209 shares of the company’s stock after buying an additional 216,870 shares during the period. Lord Abbett & CO. LLC owned approximately 1.03% of Arlo Technologies worth $12,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARLO. Chilton Capital Management LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at about $33,000. Quest Partners LLC increased its stake 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 purchasing an additional 1,882 shares in the last quarter. CWM LLC raised its holdings in 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 purchasing an additional 1,778 shares during the period. GAMMA Investing LLC raised its holdings in Arlo Technologies by 35.7% in the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after purchasing an additional 1,160 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Arlo Technologies during the second quarter worth $62,000. 83.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the sale, the chief executive officer now owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. This trade represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,330 shares of company stock valued at $4,057,187. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Craig Hallum dropped their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Arlo Technologies Stock Up 3.7 %

ARLO stock opened at $12.85 on Tuesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -51.40 and a beta of 1.79. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64. The business has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $12.63.

Arlo Technologies 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.