State Street Corp Has $51.70 Million Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

State Street Corp increased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,269,561 shares of the company’s stock after buying an additional 26,492 shares during the quarter. State Street Corp’s holdings in Arlo Technologies were worth $51,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brandes Investment Partners LP increased its holdings in shares of Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after acquiring an additional 53,242 shares in the last quarter. Rice Hall James & Associates LLC grew its position in Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares during the period. Wasatch Advisors LP increased its stake in Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares in the last quarter. Renaissance Technologies LLC increased its stake in Arlo Technologies by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after purchasing an additional 154,100 shares in the last quarter. Finally, Needham Investment Management LLC raised its holdings in Arlo Technologies by 29.1% during the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after buying an additional 285,000 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $11.45 on Friday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -45.80 and a beta of 1.79. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The company has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $12.59.

Wall Street Analyst Weigh In

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

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 27,588 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the transaction, the general counsel now owns 611,465 shares of the company’s stock, valued at approximately $7,056,306.10. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,330 shares of company stock worth $4,057,187 in the last 90 days. Insiders own 3.80% of the company’s stock.

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.