New York State Common Retirement Fund Grows Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

New York State Common Retirement Fund increased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,546 shares of the company’s stock after buying an additional 23,954 shares during the period. New York State Common Retirement Fund owned about 0.18% of Arlo Technologies worth $2,043,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Arlo Technologies by 0.6% during the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after acquiring an additional 26,492 shares in the last quarter. Wasatch Advisors LP grew its holdings in Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock worth $45,374,000 after acquiring an additional 247,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arlo Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock worth $26,554,000 after acquiring an additional 48,221 shares in the last quarter. Needham Investment Management LLC grew its holdings in Arlo Technologies by 29.1% during the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after acquiring an additional 285,000 shares in the last quarter. Finally, Swedbank AB grew its holdings in Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company’s stock worth $13,428,000 after acquiring an additional 100,000 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Trading Up 20.2 %

ARLO stock opened at $14.33 on Friday. Arlo Technologies, Inc. has a 52 week low of $9.92 and a 52 week high of $17.64. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -57.30 and a beta of 1.77. The firm’s 50-day moving average is $11.63 and its two-hundred day moving average is $11.68.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the sale, the chief executive officer now directly owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian Busse sold 17,669 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total transaction of $196,302.59. Following the sale, the general counsel now owns 606,832 shares in the company, valued at $6,741,903.52. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 488,565 shares of company stock worth $5,629,360. 3.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday.

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.