Principal Financial Group Inc. Sells 11,564 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Principal Financial Group Inc. lowered its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,059 shares of the company’s stock after selling 11,564 shares during the quarter. Principal Financial Group Inc.’s holdings in Arlo Technologies were worth $5,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in shares of Arlo Technologies in the second quarter worth $33,000. GAMMA Investing LLC boosted its holdings in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the last quarter. CWM LLC grew its position in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies in the second quarter worth about $62,000. Finally, Hennessy Advisors Inc. bought a new position in Arlo Technologies during the second quarter valued at approximately $138,000. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $11.72 on Thursday. The stock has a 50 day moving average price of $11.40 and a 200-day moving average price of $12.67. Arlo Technologies, Inc. has a one year low of $8.33 and a one year high of $17.64. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -46.24 and a beta of 1.78.

Analysts Set New Price Targets

Several analysts have recently issued reports on ARLO shares. Craig Hallum decreased their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.