19,151 Shares in Arlo Technologies, Inc. (NYSE:ARLO) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,151 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Arlo Technologies by 3.2% in the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after buying an additional 907 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings 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 acquiring an additional 965 shares during the period. D.A. Davidson & CO. boosted its position in Arlo Technologies by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,018 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arlo Technologies by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company’s stock valued at $302,000 after purchasing an additional 2,253 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARLO has been the topic of several analyst reports. Craig Hallum raised their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th.

Insider Activity

In other Arlo Technologies news, General Counsel Brian Busse sold 11,475 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $131,159.25. Following the transaction, the general counsel now owns 590,983 shares in the company, valued at approximately $6,754,935.69. This trade represents a 1.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56. Following the sale, the chief executive officer now directly owns 3,161,472 shares of the company’s stock, valued at $36,862,763.52. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,441 shares of company stock worth $11,448,097 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $9.62 on Thursday. The firm has a fifty day moving average of $11.31 and a 200 day moving average of $11.52. The firm has a market cap of $985.45 million, a PE ratio of -38.48 and a beta of 1.66. Arlo Technologies, Inc. has a one year low of $9.43 and a one year high of $17.64.

About Arlo Technologies

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.