Blueshift Asset Management LLC Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

Blueshift Asset Management LLC purchased a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,290 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARLO. Chilton Capital Management LLC acquired a new position in shares of Arlo Technologies during the 2nd quarter worth $33,000. Quest Partners LLC raised its holdings in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares in the last quarter. CWM LLC boosted its stake in shares of Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after acquiring an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Arlo Technologies during the 2nd quarter valued at about $62,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 6.6 %

ARLO opened at $11.25 on Friday. The stock’s 50 day moving average price is $11.43 and its two-hundred day moving average price is $12.60. The firm has a market capitalization of $1.13 billion, a P/E ratio of -45.00 and a beta of 1.78. Arlo Technologies, Inc. has a 12-month low of $8.33 and a 12-month high of $17.64.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARLO. Craig Hallum decreased their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Company 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.