Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 17,669 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 17,669 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $11.11, for a total transaction of $196,302.59. Following the transaction, the general counsel now owns 606,832 shares in the company, valued at $6,741,903.52. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Brian Busse also recently made the following trade(s):

• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total transaction of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total value of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total value of $318,365.52.

Arlo Technologies Stock Up 1.9 %

ARLO stock opened at $11.48 on Friday. Arlo Technologies, Inc. has a twelve month low of $8.56 and a twelve month high of $17.64. The company has a market cap of $1.15 billion, a P/E ratio of -45.90 and a beta of 1.77. The business’s fifty day moving average is $11.80 and its 200-day moving average is $11.82.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Craig Hallum lowered their price objective on 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 set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th.

Institutional Investors Weigh In On Arlo Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its position in shares of Arlo Technologies by 21.1% during the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock worth $50,773,000 after buying an additional 790,549 shares during the period. XTX Topco Ltd bought a new position in Arlo Technologies during the 4th quarter worth approximately $188,000. Barclays PLC grew its holdings in Arlo Technologies by 8.0% during the fourth quarter. Barclays PLC now owns 200,103 shares of the company’s stock valued at $2,239,000 after purchasing an additional 14,822 shares during the period. Granite Investment Partners LLC increased its stake in Arlo Technologies by 13.0% in the fourth quarter. Granite Investment Partners LLC now owns 1,578,549 shares of the company’s stock valued at $17,664,000 after purchasing an additional 181,665 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Arlo Technologies in the fourth quarter worth $415,000. Institutional investors own 83.18% of the company’s stock.

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.