Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 11,475 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 11,475 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $131,159.25. Following the transaction, the general counsel now directly owns 590,983 shares of the company’s stock, valued at $6,754,935.69. This represents a 1.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Brian Busse also recently made the following trade(s):

• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total value of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total value of $318,365.52.

Arlo Technologies Stock Down 1.8 %

Shares of ARLO stock opened at $11.18 on Friday. Arlo Technologies, Inc. has a 52 week low of $8.53 and a 52 week high of $17.64. The company has a 50 day moving average price of $11.86 and a 200-day moving average price of $11.97. The firm has a market capitalization of $1.12 billion, a PE ratio of -44.72 and a beta of 1.77.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Craig Hallum cut their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th.

Institutional Investors Weigh In On Arlo Technologies

A number of hedge funds have recently modified their holdings of ARLO. Smartleaf Asset Management LLC lifted its position in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. Quest Partners LLC raised its stake in 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 acquiring an additional 1,882 shares during the period. GAMMA Investing LLC lifted its holdings in Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after purchasing an additional 1,160 shares in the last quarter. KBC Group NV boosted its position in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after purchasing an additional 3,185 shares during the period. Finally, Ieq Capital LLC purchased a new stake in shares of Arlo Technologies in the fourth quarter worth $121,000. Institutional investors own 83.18% 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.