Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 6,593 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 6,593 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the transaction, the general counsel now owns 612,743 shares in the company, valued at $7,046,544.50. The trade was a 1.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59.
• 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 transaction of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62.

Arlo Technologies Stock Up 3.4 %

ARLO opened at $12.25 on Thursday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -48.98 and a beta of 1.66. Arlo Technologies, Inc. has a 52-week low of $9.92 and a 52-week high of $17.64. The firm’s fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $11.68.

Analyst Upgrades and Downgrades

ARLO has been the topic of several analyst reports. BWS Financial restated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum raised their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Hedge Funds Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Advisers LLC lifted its stake in shares of Arlo Technologies by 116.9% in the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after buying an additional 898,167 shares in the last quarter. Wasatch Advisors LP lifted 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 worth $50,773,000 after buying an additional 790,549 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Arlo Technologies in the fourth quarter worth about $4,586,000. Westwood Holdings Group Inc. lifted its stake in shares of Arlo Technologies by 38.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock worth $16,503,000 after buying an additional 409,489 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in shares of Arlo Technologies by 7.0% in 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. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.