Connor Clark & Lunn Investment Management Ltd. Purchases 207,402 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 26.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 991,253 shares of the company’s stock after acquiring an additional 207,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Arlo Technologies worth $11,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARLO. Raymond James Financial Inc. bought a new stake in Arlo Technologies during the 4th quarter worth $4,586,000. Swedbank AB grew its position in Arlo Technologies by 37.5% during the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after acquiring an additional 300,000 shares during the last quarter. Needham Investment Management LLC grew its position in Arlo Technologies by 29.1% during the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after acquiring an additional 285,000 shares during the last quarter. Wasatch Advisors LP grew its position in Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock worth $45,374,000 after acquiring an additional 247,160 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after acquiring an additional 216,870 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Insider Activity at Arlo Technologies

In related news, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the sale, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the sale, the chief executive officer now owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 648,743 shares of company stock worth $7,503,028 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Trading Up 1.1 %

NYSE ARLO opened at $10.65 on Friday. The business’s 50-day moving average price is $11.63 and its two-hundred day moving average price is $11.62. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The firm has a market capitalization of $1.09 billion, a PE ratio of -42.58 and a beta of 1.66.

Wall Street Analyst Weigh In

ARLO has been the topic of a number of research reports. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th.

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.