Stifel Financial Corp Cuts Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Stifel Financial Corp reduced its position in Arlo Technologies, Inc. (NYSE:ARLO) by 21.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,709 shares of the company’s stock after selling 4,081 shares during the period. Stifel Financial Corp’s holdings in Arlo Technologies were worth $178,000 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. Quest Partners LLC lifted its position in shares of Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Arlo Technologies in the second quarter valued at about $33,000. GAMMA Investing LLC increased its stake in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after purchasing an additional 1,160 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Arlo Technologies during the second quarter worth about $62,000. Finally, Versor Investments LP acquired a new position in shares of Arlo Technologies during the 3rd quarter worth about $178,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Trading Down 1.9 %

ARLO stock opened at $11.25 on Tuesday. The firm has a 50-day moving average of $11.71 and a two-hundred day moving average of $12.47. Arlo Technologies, Inc. has a 12 month low of $8.33 and a 12 month high of $17.64. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -45.00 and a beta of 1.79.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of the firm’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 owns 611,465 shares of the company’s stock, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on 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 $36,477,801.52. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

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

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.