UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 31,920 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 20.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,556 shares of the company’s stock after selling 31,920 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Arlo Technologies worth $1,460,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Emerald Advisers LLC bought a new position in Arlo Technologies in the second quarter valued at approximately $11,528,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Arlo Technologies in the 2nd quarter valued at $9,413,000. Westwood Holdings Group Inc. raised its holdings in shares of Arlo Technologies by 289.7% during the 2nd 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 in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Arlo Technologies by 3,624.0% during the 2nd 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 boosted its stake in Arlo Technologies by 37.5% in the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after buying an additional 300,000 shares in the last quarter. 83.18% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

ARLO has been the subject of several research analyst reports. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum lowered their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Arlo Technologies Stock Up 3.7 %

Shares of ARLO opened at $12.85 on Tuesday. The stock has a market cap of $1.29 billion, a PE ratio of -51.40 and a beta of 1.79. Arlo Technologies, Inc. has a 12-month low of $8.33 and a 12-month high of $17.64. The business has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $12.63.

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.