Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 17,669 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 17,669 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59. Following the transaction, the general counsel now directly owns 606,832 shares of the company’s stock, valued at $6,741,903.52. This represents a 2.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total value of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The stock was 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 transaction of $318,365.52.

Arlo Technologies Price Performance

Shares of NYSE:ARLO opened at $11.48 on Friday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -45.90 and a beta of 1.77. The business’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $11.82. Arlo Technologies, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $17.64.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently made changes to their positions in ARLO. Vanguard Group Inc. lifted its holdings in Arlo Technologies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company’s stock valued at $109,902,000 after purchasing an additional 166,823 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Arlo Technologies by 7.0% during the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after buying an additional 375,903 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after acquiring an additional 790,549 shares during the last quarter. State Street Corp boosted its holdings in shares of Arlo Technologies by 0.6% in the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after acquiring an additional 26,492 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in Arlo Technologies by 4.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

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

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.