Arlo Technologies, Inc. (NYSE:ARLO) Holdings Decreased by Fmr LLC

Fmr LLC trimmed its position in Arlo Technologies, Inc. (NYSE:ARLO) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 179,505 shares of the company’s stock after selling 1,279 shares during the period. Fmr LLC’s holdings in Arlo Technologies were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Arlo Technologies by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock valued at $334,000 after acquiring an additional 871 shares during the last quarter. GAMMA Investing LLC grew its stake in Arlo Technologies by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares during the last quarter. CWM LLC grew its stake in Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after buying an additional 1,778 shares during the last quarter. Quest Partners LLC grew its stake in Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after buying an additional 1,882 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Arlo Technologies by 4.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock worth $640,000 after buying an additional 2,200 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Price Performance

Shares of ARLO opened at $12.39 on Friday. Arlo Technologies, Inc. has a 12 month low of $8.33 and a 12 month high of $17.64. The stock has a fifty day moving average price of $11.63 and a 200 day moving average price of $12.64. The company has a market cap of $1.24 billion, a P/E ratio of -49.56 and a beta of 1.79.

Analysts Set New Price Targets

ARLO has been the subject of a number of recent research reports. Craig Hallum lowered their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note 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.

Insiders Place Their Bets

In other news, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of the sale, the general counsel now owns 611,465 shares in the company, valued at $7,056,306.10. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,330 shares of company stock worth $4,057,187. 3.80% of the stock is owned by company insiders.

About Arlo Technologies

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.