Rhumbline Advisers Boosts Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Rhumbline Advisers boosted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 269,338 shares of the company’s stock after acquiring an additional 6,101 shares during the period. Rhumbline Advisers’ holdings in Arlo Technologies were worth $3,014,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC grew its holdings in Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares during the last quarter. KBC Group NV boosted its position in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after buying an additional 965 shares during the period. Choreo LLC purchased a new stake in shares of Arlo Technologies in the fourth quarter worth approximately $154,000. Finally, Versor Investments LP bought a new stake in shares of Arlo Technologies during the 3rd quarter worth approximately $178,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $14.33 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of -57.30 and a beta of 1.77. The firm’s 50 day simple moving average is $11.63 and its 200-day simple moving average is $11.68. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ARLO. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday. Craig Hallum boosted their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday.

Insider Buying and Selling

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 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 $3,654,071.76. Following the transaction, the chief executive officer now directly owns 3,160,988 shares in the company, valued at $36,477,801.52. This represents a 9.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Busse sold 27,588 shares of the firm’s 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 directly owns 611,465 shares in the company, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 488,565 shares of company stock valued at $5,629,360 over the last quarter. 3.80% of the stock is owned by corporate insiders.

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.