New York State Teachers Retirement System Sells 6,660 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

New York State Teachers Retirement System decreased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 129,684 shares of the company’s stock after selling 6,660 shares during the period. New York State Teachers Retirement System owned about 0.13% of Arlo Technologies worth $1,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC increased its stake in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares in the last quarter. KBC Group NV raised its stake in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after purchasing an additional 3,185 shares during the last quarter. Hennessy Advisors Inc. increased its holdings in Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after buying an additional 965 shares in the last quarter. Choreo LLC purchased a new position in shares of Arlo Technologies during the fourth quarter valued at approximately $154,000. Finally, Versor Investments LP bought a new stake in Arlo Technologies in the 3rd quarter worth approximately $178,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARLO has been the topic of several recent research reports. BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum dropped their target price 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.

Insider Buying and Selling

In other news, General Counsel Brian Busse sold 17,669 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total transaction of $196,302.59. Following the sale, the general counsel now directly owns 606,832 shares in the company, valued at approximately $6,741,903.52. This represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total value of $677,981.88. Following the sale, the chief executive officer now owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 488,565 shares of company stock worth $5,629,360. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $11.46 on Friday. The company has a market cap of $1.15 billion, a P/E ratio of -45.82 and a beta of 1.77. The firm’s fifty day moving average is $11.60 and its two-hundred day moving average is $11.68. Arlo Technologies, Inc. has a 52-week low of $8.63 and a 52-week high of $17.64.

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.