Fmr LLC Reduces Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Fmr LLC lessened its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,505 shares of the company’s stock after selling 1,279 shares during the quarter. Fmr LLC owned approximately 0.18% of Arlo Technologies worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares in the last quarter. Swedbank AB lifted its stake in shares of Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock valued at $10,432,000 after purchasing an additional 250,000 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Arlo Technologies by 472.8% in the 2nd quarter. Raymond James & Associates now owns 359,926 shares of the company’s stock valued at $4,693,000 after purchasing an additional 297,088 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Arlo Technologies by 33.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 112,811 shares of the company’s stock valued at $1,471,000 after purchasing an additional 28,443 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Arlo Technologies during the 2nd quarter worth approximately $138,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Insiders Place Their Bets

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,160,988 shares in the company, valued at $36,477,801.52. This represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,330 shares of company stock worth $4,057,187 in the last three months. 3.80% of the stock is owned by insiders.

Arlo Technologies Stock Down 5.4 %

ARLO stock opened at $12.39 on Friday. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The stock’s 50 day moving average is $11.63 and its two-hundred day moving average is $12.64. The company has a market capitalization of $1.24 billion, a PE ratio of -49.56 and a beta of 1.79.

Analyst Upgrades and Downgrades

ARLO has been the topic of several recent research reports. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum reduced their price target on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

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.