Kurtis Joseph Binder Sells 12,155 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 12,155 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following the transaction, the chief financial officer now directly owns 837,906 shares in the company, valued at $9,635,919. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arlo Technologies Trading Down 3.6 %

Arlo Technologies stock opened at $11.84 on Friday. The firm’s fifty day moving average price is $11.67 and its two-hundred day moving average price is $11.68. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -47.34 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64.

Institutional Trading of Arlo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after purchasing an additional 907 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after acquiring an additional 965 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock valued at $1,029,000 after acquiring an additional 1,018 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares in the last quarter. 83.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report 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.