SG Americas Securities LLC Sells 12,468 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

SG Americas Securities LLC lowered its position in Arlo Technologies, Inc. (NYSE:ARLO) by 31.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,268 shares of the company’s stock after selling 12,468 shares during the period. SG Americas Securities LLC’s holdings in Arlo Technologies were worth $305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB boosted its stake in shares of Arlo Technologies by 37.5% in the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after purchasing an additional 300,000 shares in the last quarter. Needham Investment Management LLC grew its stake in shares of Arlo Technologies by 29.1% during the third quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after buying an additional 285,000 shares during the last quarter. Wasatch Advisors LP increased its holdings 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 buying an additional 247,160 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Arlo Technologies by 26.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after buying an additional 216,870 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of 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 acquiring an additional 191,536 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Brian Busse sold 9,007 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the transaction, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Blake Mcrae sold 316,644 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at $36,477,801.52. This trade represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,105 shares of company stock worth $4,623,916. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Arlo Technologies Trading Up 3.3 %

Arlo Technologies stock opened at $11.61 on Wednesday. Arlo Technologies, Inc. has a 1-year low of $8.38 and a 1-year high of $17.64. The firm has a market cap of $1.16 billion, a P/E ratio of -46.42 and a beta of 1.77. The firm has a 50-day moving average of $11.85 and a 200-day moving average of $11.98.

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.