Choreo LLC Invests $154,000 in Arlo Technologies, Inc. (NYSE:ARLO)

Choreo LLC bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 13,691 shares of the company’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC increased its stake in shares of Arlo Technologies by 283.0% during the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares in the last quarter. KBC Group NV grew its holdings in Arlo Technologies by 106.8% during the 4th 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. Hennessy Advisors Inc. increased its position in 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 buying an additional 965 shares in the last quarter. Versor Investments LP acquired a new position in shares of Arlo Technologies in the third quarter worth $178,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Arlo Technologies in the third quarter valued at $246,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Matthew Blake Mcrae sold 59,316 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the transaction, the chief executive officer now directly owns 3,128,696 shares of the company’s stock, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian Busse sold 17,669 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,741,903.52. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,565 shares of company stock valued at $5,629,360. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ARLO shares. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum cut their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Arlo Technologies Price Performance

Shares of NYSE:ARLO opened at $11.57 on Friday. The business has a 50-day moving average of $11.75 and a two-hundred day moving average of $11.76. The firm has a market capitalization of $1.16 billion, a PE ratio of -46.26 and a beta of 1.77. Arlo Technologies, Inc. has a 12 month low of $8.56 and a 12 month high of $17.64.

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.