KLP Kapitalforvaltning AS Makes New $431,000 Investment in Arlo Technologies, Inc. (NYSE:ARLO)

KLP Kapitalforvaltning AS bought a new stake in Arlo Technologies, Inc. (NYSE:ARLO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,500 shares of the company’s stock, valued at approximately $431,000.

Other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after purchasing an additional 1,191 shares during the period. KBC Group NV lifted its stake 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 acquired a new position in shares of Arlo Technologies during the fourth quarter valued at $121,000. Hennessy Advisors Inc. grew its position in shares of Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after acquiring an additional 965 shares during the last quarter. Finally, Balboa Wealth Partners acquired a new stake in shares of Arlo Technologies in the 4th quarter worth about $129,000. 83.18% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the transaction, the general counsel now owns 602,458 shares of the company’s stock, valued at $7,024,660.28. The trade was a 1.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 12,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $139,782.50. Following the sale, the chief financial officer now owns 837,906 shares of the company’s stock, valued at $9,635,919. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock worth $11,448,097 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Capital set a $22.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum boosted 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 target price on shares of Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Stock Down 0.7 %

Shares of ARLO opened at $8.45 on Friday. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The firm has a market capitalization of $866.01 million, a PE ratio of -33.82 and a beta of 1.71. The firm has a 50-day moving average price of $11.17 and a 200 day moving average price of $11.48.

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.