BNP Paribas Financial Markets Has $609,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

BNP Paribas Financial Markets cut its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,262 shares of the company’s stock after selling 7,007 shares during the quarter. BNP Paribas Financial Markets owned about 0.05% of Arlo Technologies worth $609,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Brandes Investment Partners LP raised its position in shares of Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after purchasing an additional 53,242 shares during the period. Rice Hall James & Associates LLC grew its stake in Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Arlo Technologies by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after acquiring an additional 154,100 shares during the period. Engle Capital Management L.P. lifted its position in Arlo Technologies by 25.6% during the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after acquiring an additional 230,000 shares during the last quarter. Finally, Swedbank AB boosted 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 valued at $13,321,000 after acquiring an additional 300,000 shares during the period. 83.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARLO. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th. Craig Hallum lowered their price target on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Insider Transactions at Arlo Technologies

In other news, General Counsel Brian Busse sold 27,588 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the transaction, the general counsel now directly owns 611,465 shares of the company’s stock, valued at approximately $7,056,306.10. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,330 shares of company stock valued at $4,057,187 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Stock Performance

Shares of ARLO opened at $13.10 on Friday. The stock has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $12.65. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The firm has a market capitalization of $1.31 billion, a PE ratio of -52.38 and a beta of 1.79.

Arlo Technologies 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.