Algert Global LLC Boosts Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Algert Global LLC raised its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,326 shares of the company’s stock after purchasing an additional 6,395 shares during the period. Algert Global LLC owned 0.21% of Arlo Technologies worth $2,331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ARLO. Smartleaf Asset Management LLC increased its holdings in shares of Arlo Technologies by 104.5% in the 4th 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 last quarter. KBC Group NV increased its stake in Arlo Technologies by 106.8% during 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 during the last quarter. Ieq Capital LLC purchased a new stake in Arlo Technologies during the fourth quarter valued at approximately $121,000. Hennessy Advisors Inc. boosted its holdings in shares of Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the period. Finally, Balboa Wealth Partners bought a new position in shares of Arlo Technologies during the 4th quarter valued at approximately $129,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

NYSE ARLO opened at $10.63 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -42.52 and a beta of 1.81. The stock has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $11.11. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64.

Analysts Set New Price Targets

Several brokerages have issued reports on ARLO. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Thursday, April 24th. Craig Hallum upped their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th.

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 25,405 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $9.90, for a total value of $251,509.50. Following the completion of the transaction, the chief executive officer now directly owns 2,580,370 shares of the company’s stock, valued at approximately $25,545,663. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 6,593 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $75,819.50. Following the completion of the transaction, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 916,182 shares of company stock valued at $10,238,986 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

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.