Arlo Technologies, Inc. (NYSE:ARLO) Stake Increased by Swedbank AB

Swedbank AB raised its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,200,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. Swedbank AB’s holdings in Arlo Technologies were worth $13,428,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC boosted its holdings in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the period. GAMMA Investing LLC lifted its position in shares of Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares during the last quarter. KBC Group NV boosted its holdings in shares of Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the period. Hennessy Advisors Inc. grew its position in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after buying an additional 965 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Arlo Technologies during the third quarter worth about $178,000. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Trading Up 0.3 %

NYSE ARLO opened at $11.72 on Friday. The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $12.12. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -46.88 and a beta of 1.77. Arlo Technologies, Inc. has a 52 week low of $8.38 and a 52 week high of $17.64.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. 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 note on Friday, November 8th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Insider Buying and Selling

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the transaction, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This trade represents a 9.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now directly owns 602,458 shares of the company’s stock, valued at approximately $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 400,105 shares of company stock valued at $4,623,916 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

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.