Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells 184,589 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 184,589 shares of Arlo Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,975,102.30. Following the completion of the transaction, the chief financial officer now owns 977,457 shares in the company, valued at approximately $10,458,789.90. This represents a 15.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kurtis Joseph Binder also recently made the following trade(s):

• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $10.92 on Tuesday. The firm has a 50 day moving average price of $11.54 and a two-hundred day moving average price of $11.58. The stock has a market cap of $1.12 billion, a P/E ratio of -43.69 and a beta of 1.66. Arlo Technologies, Inc. has a 52-week low of $9.92 and a 52-week high of $17.64.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Arlo Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System lifted its holdings in Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after buying an additional 907 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after acquiring an additional 965 shares during the period. D.A. Davidson & CO. boosted its holdings in Arlo Technologies by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock valued at $1,029,000 after acquiring an additional 1,018 shares during the last quarter. Hsbc Holdings PLC increased its position in Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after purchasing an additional 1,103 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.