Arlo Technologies, Inc. (NYSE:ARLO) Sees Large Decline in Short Interest

Arlo Technologies, Inc. (NYSE:ARLO) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 6,140,000 shares, a decline of 8.5% from the November 15th total of 6,710,000 shares. Based on an average daily trading volume, of 842,300 shares, the short-interest ratio is presently 7.3 days.

Arlo Technologies Stock Down 3.6 %

Arlo Technologies stock opened at $12.39 on Wednesday. Arlo Technologies has a 12-month low of $8.33 and a 12-month high of $17.64. The stock has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $12.62. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -49.48 and a beta of 1.79.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now directly 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 transaction 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 Arlo Technologies 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 transaction, the chief executive officer now directly owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. The trade was a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,330 shares of company stock worth $4,057,187 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

Institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in shares of Arlo Technologies by 3.5% in the second quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock valued at $334,000 after purchasing an additional 871 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after buying an additional 1,160 shares during the period. CWM LLC raised its position in shares of Arlo Technologies by 90.5% during 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. Quest Partners LLC lifted its stake in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after acquiring an additional 1,882 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Arlo Technologies by 4.7% in the second quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock valued at $640,000 after acquiring an additional 2,200 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum reduced 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.

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.