Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,540 shares of the company’s stock after selling 2,339 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Arlo Technologies were worth $331,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System increased its stake in Arlo Technologies by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 136,344 shares of the company’s stock worth $1,651,000 after purchasing an additional 2,774 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Arlo Technologies by 13.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,181 shares of the company’s stock worth $257,000 after acquiring an additional 2,520 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in Arlo Technologies during the 3rd quarter worth about $251,000. Olympiad Research LP acquired a new stake in shares of Arlo Technologies during the 3rd quarter valued at about $466,000. Finally, Versor Investments LP acquired a new stake in shares of Arlo Technologies during the 3rd quarter valued at about $178,000. 83.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Brian Busse sold 9,007 shares of the business’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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $677,981.88. Following the sale, the chief executive officer now owns 3,128,696 shares in the company, valued at $35,760,995.28. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,333 shares of company stock valued at $1,656,923 in the last three months. Company insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Down 15.5 %

Shares of NYSE ARLO opened at $12.15 on Tuesday. The business’s 50 day moving average is $11.63 and its two-hundred day moving average is $11.68. The company has a market cap of $1.22 billion, a P/E ratio of -48.60 and a beta of 1.77. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARLO shares. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday. Craig Hallum raised their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday.

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.