Stifel Financial Corp Lowers Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Stifel Financial Corp cut its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 21.7% during the third quarter, Holdings Channel reports. The firm owned 14,709 shares of the company’s stock after selling 4,081 shares during the quarter. Stifel Financial Corp’s holdings in Arlo Technologies were worth $178,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ARLO. Brandes Investment Partners LP grew its holdings in shares of Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after purchasing an additional 53,242 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in Arlo Technologies by 4.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares during the period. Wasatch Advisors LP grew its stake in shares of Arlo Technologies by 7.1% in the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock worth $45,374,000 after acquiring an additional 247,160 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Arlo Technologies by 12.2% during the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after acquiring an additional 154,100 shares during the period. Finally, Needham Investment Management LLC raised its stake in shares of Arlo Technologies by 29.1% in the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after acquiring an additional 285,000 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARLO shares. Craig Hallum lowered their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th.

Arlo Technologies Trading Down 1.9 %

Shares of ARLO opened at $11.25 on Tuesday. The firm’s fifty day simple moving average is $11.71 and its 200-day simple moving average is $12.47. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -45.00 and a beta of 1.79. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the transaction, the chief executive officer now directly owns 3,160,988 shares in the company, valued at $36,477,801.52. This represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian Busse sold 27,588 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $318,365.52. Following the sale, the general counsel now owns 611,465 shares of the company’s stock, valued at $7,056,306.10. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

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.