Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells $75,819.50 in Stock

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

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

• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The stock was 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 value 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 value of $105,021.62.

Arlo Technologies Price Performance

NYSE ARLO opened at $11.82 on Friday. 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 $1.21 billion, a P/E ratio of -47.29 and a beta of 1.66. The stock’s 50-day moving average is $11.68 and its 200-day moving average is $11.68.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Craig Hallum upped their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, February 28th.

Institutional Trading of Arlo Technologies

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Arlo Technologies by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company’s stock worth $109,902,000 after acquiring an additional 166,823 shares in the last quarter. Brandes Investment Partners LP boosted its stake in Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after purchasing an additional 375,903 shares during the period. Wasatch Advisors LP increased its holdings in Arlo Technologies by 21.1% during the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after purchasing an additional 790,549 shares in the last quarter. State Street Corp raised its stake 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 valued at $51,704,000 after purchasing an additional 26,492 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Arlo Technologies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock valued at $24,838,000 after purchasing an additional 26,803 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.