Geode Capital Management LLC Boosts Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Geode Capital Management LLC increased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 2.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,192,273 shares of the company’s stock after acquiring an additional 48,221 shares during the period. Geode Capital Management LLC’s holdings in Arlo Technologies were worth $26,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARLO. Chilton Capital Management LLC purchased a new position in Arlo Technologies during the second quarter valued at $33,000. Quest Partners LLC lifted its stake in Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Arlo Technologies by 35.7% in 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. Meeder Asset Management Inc. purchased a new stake in Arlo Technologies during the 2nd quarter worth approximately $62,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Arlo Technologies during the second quarter valued at approximately $174,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Insider Buying and Selling

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction 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 $36,477,801.52. The trade was a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now directly 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. Over the last 90 days, insiders have sold 351,330 shares of company stock worth $4,057,187. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Price Performance

Shares of Arlo Technologies stock opened at $11.77 on Friday. The stock’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $12.51. The stock has a market cap of $1.18 billion, a P/E ratio of -47.08 and a beta of 1.79. Arlo Technologies, Inc. has a 1-year low of $8.33 and a 1-year high of $17.64.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Craig Hallum lowered their price target on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies 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.