Zurcher Kantonalbank Zurich Cantonalbank Has $302,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,978 shares of the company’s stock after purchasing an additional 2,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arlo Technologies were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ARLO. Emerald Advisers LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at $11,528,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Arlo Technologies during the 2nd quarter valued at $9,413,000. Westwood Holdings Group Inc. raised its holdings in Arlo Technologies by 289.7% during the second quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock worth $12,274,000 after buying an additional 699,724 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Arlo Technologies by 3,624.0% during the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after buying an additional 590,778 shares during the last quarter. Finally, Swedbank AB raised its holdings in Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after buying an additional 300,000 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the sale, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at $36,477,801.52. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,330 shares of company stock worth $4,057,187 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARLO. Craig Hallum lowered their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. BWS Financial reaffirmed 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 Stock Performance

Shares of Arlo Technologies stock opened at $12.72 on Monday. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -50.88 and a beta of 1.79. The company’s 50 day moving average price is $11.49 and its 200-day moving average price is $12.63.

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.