Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 16.8% in the 4th quarter, HoldingsChannel reports. The firm owned 17,613 shares of the company’s stock after selling 3,568 shares during the period. Harbor Capital Advisors Inc.’s holdings in Arlo Technologies were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in shares of 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Arlo Technologies by 35.7% in the third 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 in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Arlo Technologies during the second quarter worth $184,000. Versor Investments LP purchased a new position in Arlo Technologies in the third quarter worth $178,000. Finally, Blueshift Asset Management LLC acquired a new stake in Arlo Technologies in the third quarter valued at $246,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the topic of a number of recent analyst reports. Craig Hallum lowered their price target on shares of 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 restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Arlo Technologies Trading Up 2.3 %

Shares of NYSE ARLO opened at $11.59 on Wednesday. The company’s 50-day moving average price is $11.86 and its 200 day moving average price is $12.35. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -46.36 and a beta of 1.77.

Insider Activity

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of the company’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 $318,365.52. Following the transaction, the general counsel now directly owns 611,465 shares in the company, valued at approximately $7,056,306.10. This represents a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the sale, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This trade represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

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.