Jane Street Group LLC Sells 40,070 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Jane Street Group LLC trimmed its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 22.3% in the third quarter, HoldingsChannel.com reports. The fund owned 139,495 shares of the company’s stock after selling 40,070 shares during the quarter. Jane Street Group LLC’s holdings in Arlo Technologies were worth $1,689,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ARLO. Emerald Advisers LLC bought a new stake in Arlo Technologies during the second quarter worth about $11,528,000. Emerald Mutual Fund Advisers Trust bought a new position in Arlo Technologies in the 2nd quarter valued at about $9,413,000. Westwood Holdings Group Inc. raised its position 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 valued at $12,274,000 after buying an additional 699,724 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Arlo Technologies by 3,624.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after acquiring an additional 590,778 shares during the period. Finally, Swedbank AB boosted its position in shares of Arlo Technologies by 37.5% during the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after acquiring an additional 300,000 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARLO has been the subject of several research analyst reports. Craig Hallum lowered their price objective on shares of 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 reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, November 8th.

Insiders Place Their Bets

In related news, CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the sale, the chief executive officer now directly owns 3,160,988 shares in the company, valued at $36,477,801.52. This trade represents a 9.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now owns 611,465 shares of the company’s stock, valued at approximately $7,056,306.10. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,330 shares of company stock valued at $4,057,187. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Price Performance

ARLO stock opened at $11.54 on Thursday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -46.16 and a beta of 1.79. The company has a 50 day simple moving average of $11.73 and a 200 day simple moving average of $12.52. Arlo Technologies, Inc. has a 1 year low of $8.33 and a 1 year high of $17.64.

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.