Principal Financial Group Inc. Decreases Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Principal Financial Group Inc. cut its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 473,059 shares of the company’s stock after selling 11,564 shares during the period. Principal Financial Group Inc.’s holdings in Arlo Technologies were worth $5,729,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after buying an additional 1,882 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in Arlo Technologies during the second quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after purchasing an additional 1,160 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at approximately $62,000. Finally, Versor Investments LP purchased a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $178,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 0.5 %

ARLO opened at $11.19 on Thursday. The business has a fifty day moving average of $11.72 and a 200 day moving average of $12.45. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64. The stock has a market cap of $1.12 billion, a P/E ratio of -44.76 and a beta of 1.79.

Analyst Ratings Changes

A number of analysts recently issued reports on ARLO shares. 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. Craig Hallum dropped their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

Insider Activity

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 316,644 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction 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 trade represents a 9.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Brian Busse sold 27,588 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $318,365.52. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

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.