Swedbank AB Increases Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Swedbank AB increased its position in Arlo Technologies, Inc. (NYSE:ARLO) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,100,000 shares of the company’s stock after buying an additional 300,000 shares during the quarter. Swedbank AB owned about 1.10% of Arlo Technologies worth $13,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARLO. Quest Partners LLC increased its stake in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after acquiring an additional 1,882 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Arlo Technologies during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC increased its position in Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC raised its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Arlo Technologies during the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Down 1.2 %

NYSE ARLO opened at $12.04 on Wednesday. Arlo Technologies, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $17.64. The business has a 50 day moving average price of $11.43 and a two-hundred day moving average price of $12.61. The stock has a market cap of $1.21 billion, a PE ratio of -48.16 and a beta of 1.78.

Analysts Set New Price Targets

ARLO has been the subject of several recent research reports. Craig Hallum dropped 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. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

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.