Arlo Technologies, Inc. (NYSE:ARLO) Holdings Boosted by Blueshift Asset Management LLC

Blueshift Asset Management LLC grew its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,589 shares of the company’s stock after purchasing an additional 3,299 shares during the period. Blueshift Asset Management LLC’s holdings in Arlo Technologies were worth $264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ARLO. Teacher Retirement System of Texas purchased a new stake in Arlo Technologies in the 4th quarter worth about $214,000. Intech Investment Management LLC increased its holdings in shares of Arlo Technologies by 116.7% in the 4th quarter. Intech Investment Management LLC now owns 62,208 shares of the company’s stock valued at $696,000 after purchasing an additional 33,498 shares during the period. Royce & Associates LP lifted its position in shares of Arlo Technologies by 16.3% in the fourth quarter. Royce & Associates LP now owns 1,637,080 shares of the company’s stock worth $18,319,000 after purchasing an additional 229,450 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Arlo Technologies by 7.0% during the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after purchasing an additional 375,903 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its position in Arlo Technologies by 0.9% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 448,043 shares of the company’s stock valued at $5,014,000 after purchasing an additional 3,832 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARLO shares. Craig Hallum lifted their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Stock Down 2.0 %

Shares of ARLO opened at $10.49 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -41.96 and a beta of 1.66. The company’s fifty day moving average is $11.54 and its 200-day moving average is $11.58. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64.

Insiders Place Their Bets

In other news, General Counsel Brian Busse sold 17,669 shares of the business’s stock in a transaction on 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 sale, the general counsel now directly owns 606,832 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Blake Mcrae sold 259,227 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the completion of the transaction, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. The trade was a 8.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 648,743 shares of company stock valued at $7,503,028 over the last three months. 3.80% of the stock is currently owned by insiders.

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.