Arlo Technologies, Inc. (NYSE:ARLO) Stock Position Lifted by Truist Financial Corp

Truist Financial Corp grew its position in Arlo Technologies, Inc. (NYSE:ARLO) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,759 shares of the company’s stock after acquiring an additional 2,841 shares during the quarter. Truist Financial Corp’s holdings in Arlo Technologies were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB increased its stake in Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after purchasing an additional 300,000 shares during the last quarter. Needham Investment Management LLC boosted its holdings in shares of Arlo Technologies by 29.1% during the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after acquiring an additional 285,000 shares during the period. Wasatch Advisors LP grew its position in shares of Arlo Technologies by 7.1% during the third 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 during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Arlo Technologies by 25.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 783,851 shares of the company’s stock valued at $9,492,000 after purchasing an additional 161,346 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARLO has been the topic of a number of recent analyst reports. Craig Hallum lifted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Trading Up 3.4 %

Arlo Technologies stock opened at $12.25 on Thursday. The company’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $11.68. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -48.98 and a beta of 1.66. Arlo Technologies, Inc. has a 52 week low of $9.92 and a 52 week high of $17.64.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 26,435 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $304,002.50. Following the transaction, the chief executive officer now owns 3,205,132 shares of the company’s stock, valued at approximately $36,859,018. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $105,021.62. Following the sale, the general counsel now directly owns 602,458 shares of the company’s stock, valued at approximately $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,516 shares of company stock worth $2,176,527 over the last quarter. 3.80% of the stock is currently owned by company insiders.

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.