New York State Teachers Retirement System Trims Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

New York State Teachers Retirement System lessened its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 4.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 129,684 shares of the company’s stock after selling 6,660 shares during the quarter. New York State Teachers Retirement System’s holdings in Arlo Technologies were worth $1,451,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quest Partners LLC grew its stake in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares in the last quarter. KBC Group NV raised its holdings 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 valued at $69,000 after acquiring an additional 3,185 shares in the last quarter. Hennessy Advisors Inc. increased its position in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares during the period. Choreo LLC bought a new position in shares of Arlo Technologies during the fourth quarter valued at approximately $154,000. Finally, Versor Investments LP purchased a new stake in Arlo Technologies during the third quarter worth $178,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares of the company’s stock, valued at approximately $7,024,660.28. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 488,565 shares of company stock worth $5,629,360 over the last three months. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Stock Up 1.9 %

ARLO opened at $11.46 on Friday. The firm’s 50-day moving average price is $11.60 and its 200-day moving average price is $11.68. The company has a market cap of $1.15 billion, a P/E ratio of -45.82 and a beta of 1.77. Arlo Technologies, Inc. has a 52-week low of $8.63 and a 52-week high of $17.64.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum decreased their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Arlo Technologies 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.