SG Americas Securities LLC Sells 12,468 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

SG Americas Securities LLC lessened its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 31.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,268 shares of the company’s stock after selling 12,468 shares during the quarter. SG Americas Securities LLC’s holdings in Arlo Technologies were worth $305,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. increased its position in Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after buying an additional 965 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Arlo Technologies by 5.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company’s stock worth $1,380,000 after acquiring an additional 6,818 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Arlo Technologies by 26.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after acquiring an additional 216,870 shares during the last quarter. Orion Capital Management LLC raised its stake in Arlo Technologies by 16.5% in the 3rd quarter. Orion Capital Management LLC now owns 45,160 shares of the company’s stock valued at $547,000 after acquiring an additional 6,400 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Arlo Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARLO shares. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum cut their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.61 on Wednesday. Arlo Technologies, Inc. has a 52-week low of $8.38 and a 52-week high of $17.64. The stock’s 50-day simple moving average is $11.85 and its 200 day simple moving average is $11.98. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -46.42 and a beta of 1.77.

Insider Activity

In related news, CEO Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56. Following the completion of the sale, the chief executive officer now owns 3,161,472 shares of the company’s stock, valued at approximately $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the transaction, the general counsel now owns 611,465 shares of the company’s stock, valued at approximately $7,056,306.10. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 400,105 shares of company stock worth $4,623,916 over the last ninety days. Company insiders own 3.80% of the company’s stock.

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.