Sanctuary Advisors LLC Cuts Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Sanctuary Advisors LLC reduced its position in Arlo Technologies, Inc. (NYSE:ARLO) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,275 shares of the company’s stock after selling 1,766 shares during the period. Sanctuary Advisors LLC’s holdings in Arlo Technologies were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of Arlo Technologies by 472.8% in the second quarter. Raymond James & Associates now owns 359,926 shares of the company’s stock valued at $4,693,000 after buying an additional 297,088 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Arlo Technologies by 4.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock valued at $640,000 after acquiring an additional 2,200 shares during the period. Raymond James Trust N.A. purchased a new stake in Arlo Technologies in the 2nd quarter worth $174,000. Natixis Advisors LLC acquired a new position in Arlo Technologies during the second quarter worth $236,000. Finally, Chilton Capital Management LLC acquired a new position in Arlo Technologies during the second quarter worth $33,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 in the company, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,330 shares of company stock valued at $4,057,187. Corporate insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

ARLO has been the subject of a number of research reports. Craig Hallum cut their target price on shares of 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 reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Stock Up 1.3 %

Shares of ARLO opened at $11.54 on Thursday. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The stock has a market cap of $1.16 billion, a PE ratio of -46.16 and a beta of 1.79. The firm’s fifty day moving average is $11.73 and its two-hundred day moving average is $12.52.

About Arlo Technologies

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.