Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 11,475 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 11,475 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $131,159.25. Following the completion of the sale, the general counsel now directly owns 590,983 shares in the company, valued at approximately $6,754,935.69. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Busse also recently made the following trade(s):

• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.20 during trading on Friday, reaching $11.18. 535,247 shares of the stock traded hands, compared to its average volume of 753,882. Arlo Technologies, Inc. has a 52-week low of $8.53 and a 52-week high of $17.64. The stock has a market cap of $1.12 billion, a P/E ratio of -44.72 and a beta of 1.77. The stock has a 50-day moving average of $11.86 and a two-hundred day moving average of $11.97.

Institutional Trading of Arlo Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Amundi lifted its holdings in shares of Arlo Technologies by 163.1% during the fourth quarter. Amundi now owns 102,633 shares of the company’s stock valued at $1,218,000 after purchasing an additional 63,622 shares in the last quarter. Raymond James Financial Inc. bought a new position in Arlo Technologies during the 4th quarter valued at about $4,586,000. Arizona State Retirement System boosted its holdings in shares of Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock valued at $325,000 after acquiring an additional 907 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Arlo Technologies by 26.4% during the 4th quarter. Atria Investments Inc now owns 66,101 shares of the company’s stock valued at $740,000 after acquiring an additional 13,822 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Arlo Technologies by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,905 shares of the company’s stock worth $11,715,000 after acquiring an additional 10,505 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARLO has been the subject of several recent research reports. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th. 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 report 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.