Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 26,258 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 26,258 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the completion of the transaction, the general counsel now directly owns 636,485 shares in the company, valued at approximately $6,810,389.50. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, March 4th, Brian Busse sold 6,593 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total transaction of $75,819.50.
• 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 shares were 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 stock was sold at an average price of $11.66, for a total value of $105,021.62.

Arlo Technologies Stock Up 3.7 %

Shares of ARLO stock opened at $10.92 on Tuesday. The business has a 50 day moving average of $11.54 and a two-hundred day moving average of $11.58. The company has a market cap of $1.12 billion, a P/E ratio of -43.69 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Advisers LLC increased its position in 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 during the period. Wasatch Advisors LP increased its holdings in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after acquiring an additional 790,549 shares during the period. Raymond James Financial Inc. bought a new stake in Arlo Technologies in the 4th quarter valued at about $4,586,000. Westwood Holdings Group Inc. boosted its stake in Arlo Technologies by 38.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock valued at $16,503,000 after purchasing an additional 409,489 shares during the period. Finally, Brandes Investment Partners LP grew its position 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 last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Ratings Changes

ARLO has been the topic of a number of research analyst reports. Roth Capital set a $22.00 target price on Arlo Technologies in a report on Friday, February 28th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum boosted their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th.

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.