13,691 Shares in Arlo Technologies, Inc. (NYSE:ARLO) Bought by Choreo LLC

Choreo LLC bought a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the fourth quarter, Holdings Channel.com reports. The firm bought 13,691 shares of the company’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quest Partners LLC lifted its holdings in shares of Arlo Technologies by 283.0% in the third 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 during the period. KBC Group NV raised its position in 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 acquiring an additional 3,185 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after acquiring an additional 965 shares during the last quarter. Versor Investments LP bought a new position in shares of Arlo Technologies during the 3rd quarter valued at about $178,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $246,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Matthew Blake Mcrae sold 46,866 shares of the firm’s 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 $546,457.56. Following the completion of the sale, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now owns 611,465 shares in the company, valued at approximately $7,056,306.10. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 488,565 shares of company stock worth $5,629,360. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Trading Up 0.7 %

Shares of ARLO opened at $11.57 on Friday. The business’s 50-day moving average price is $11.75 and its 200 day moving average price is $11.76. The stock has a market capitalization of $1.16 billion, a P/E ratio of -46.26 and a beta of 1.77. Arlo Technologies, Inc. has a 1-year low of $8.56 and a 1-year high of $17.64.

About Arlo Technologies

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.