Arlo Technologies (NYSE:ARLO) Sees Unusually-High Trading Volume Following Analyst Upgrade

Arlo Technologies, Inc. (NYSE:ARLO) saw unusually-high trading volume on Monday after Craig Hallum raised their price target on the stock from $15.00 to $17.00. Craig Hallum currently has a buy rating on the stock. Approximately 573,586 shares changed hands during trading, a decline of 25% from the previous session’s volume of 766,187 shares.The stock last traded at $13.82 and had previously closed at $14.38.

Separately, BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th.

Insider Activity

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $677,981.88. Following the transaction, the chief executive officer now directly owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 17,669 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $11.11, for a total value of $196,302.59. Following the completion of the transaction, the general counsel now directly owns 606,832 shares in the company, valued at approximately $6,741,903.52. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,333 shares of company stock valued at $1,656,923 in the last ninety days. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in shares of Arlo Technologies by 28.6% in the 4th quarter. Mackenzie Financial Corp now owns 80,397 shares of the company’s stock worth $900,000 after acquiring an additional 17,892 shares during the period. AWM Investment Company Inc. lifted its position in Arlo Technologies by 168.3% in the fourth quarter. AWM Investment Company Inc. now owns 334,166 shares of the company’s stock valued at $3,739,000 after purchasing an additional 209,596 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Arlo Technologies by 47.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company’s stock valued at $1,985,000 after purchasing an additional 56,799 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Arlo Technologies by 38.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock worth $16,503,000 after purchasing an additional 409,489 shares during the period. Finally, Squarepoint Ops LLC increased its position in Arlo Technologies by 213.0% during the 4th quarter. Squarepoint Ops LLC now owns 178,672 shares of the company’s stock worth $1,999,000 after purchasing an additional 121,582 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Trading Down 15.5 %

The firm has a market capitalization of $1.22 billion, a PE ratio of -48.60 and a beta of 1.77. The business has a 50 day moving average price of $11.63 and a 200-day moving average price of $11.68.

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.