Arlo Technologies, Inc. (NYSE:ARLO) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC increased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 116.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,666,482 shares of the company’s stock after purchasing an additional 898,167 shares during the period. Emerald Advisers LLC owned 1.66% of Arlo Technologies worth $18,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its position in Arlo Technologies by 3.2% during the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after purchasing an additional 907 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in Arlo Technologies by 9.6% during 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. D.A. Davidson & CO. boosted its stake in Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after buying an additional 1,018 shares during the period. Smartleaf Asset Management LLC boosted its stake in Arlo Technologies by 104.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares during the period. Finally, Quest Partners LLC boosted its stake in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after buying an additional 1,882 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Matthew Blake Mcrae sold 46,866 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 value of $546,457.56. Following the completion of the transaction, the chief executive officer now owns 3,161,472 shares in the company, valued at $36,862,763.52. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the transaction, the general counsel now owns 602,458 shares of the company’s stock, valued at $7,024,660.28. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 648,743 shares of company stock valued at $7,503,028. 3.80% of the stock is currently owned by company insiders.

Arlo Technologies Stock Performance

NYSE ARLO opened at $10.49 on Friday. The firm has a 50 day simple moving average of $11.54 and a 200-day simple moving average of $11.58. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -41.96 and a beta of 1.66.

Analysts Set New Price Targets

Several brokerages have weighed in on ARLO. Craig Hallum increased their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th.

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.