Arlo Technologies, Inc. (NYSE:ARLO) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC grew its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 104.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,331 shares of the company’s stock after acquiring an additional 1,191 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Arlo Technologies were worth $26,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ARLO. Quest Partners LLC boosted its position in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares during the last quarter. KBC Group NV boosted its position in Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the last quarter. Ieq Capital LLC purchased a new stake in Arlo Technologies in the fourth quarter valued at approximately $121,000. Hennessy Advisors Inc. boosted 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 valued at $124,000 after buying an additional 965 shares during the last quarter. Finally, Choreo LLC purchased a new stake in Arlo Technologies in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew Blake Mcrae sold 259,227 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the transaction, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. This trade represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Brian Busse sold 17,669 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 648,743 shares of company stock worth $7,503,028. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARLO. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. Craig Hallum upped their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Trading Down 2.7 %

Arlo Technologies stock opened at $10.64 on Thursday. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The stock’s 50 day simple moving average is $11.65 and its two-hundred day simple moving average is $11.65. The firm has a market cap of $1.09 billion, a PE ratio of -42.54 and a beta of 1.66.

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.