Raymond James Trust N.A. Sells 2,760 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James Trust N.A. trimmed its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 20.7% during the third quarter, Holdings Channel reports. The institutional investor owned 10,572 shares of the company’s stock after selling 2,760 shares during the quarter. Raymond James Trust N.A.’s holdings in Arlo Technologies were worth $128,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ARLO. Emerald Advisers LLC purchased a new stake in shares of Arlo Technologies in the second quarter valued at about $11,528,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Arlo Technologies during the 2nd quarter worth approximately $9,413,000. Westwood Holdings Group Inc. boosted its stake in shares of Arlo Technologies by 289.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock worth $12,274,000 after buying an additional 699,724 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock valued at $7,916,000 after acquiring an additional 590,778 shares in the last quarter. Finally, Swedbank AB bought a new stake in Arlo Technologies during the first quarter worth $6,958,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARLO. Craig Hallum decreased their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Down 6.6 %

Shares of NYSE ARLO opened at $11.25 on Friday. The stock’s 50-day simple moving average is $11.44 and its two-hundred day simple moving average is $12.61. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64. The firm has a market capitalization of $1.13 billion, a P/E ratio of -45.10 and a beta of 1.78.

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.