Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 14.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 104,372 shares of the company’s stock after selling 16,924 shares during the period. Legato Capital Management LLC’s holdings in Arlo Technologies were worth $1,168,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Arlo Technologies by 0.6% during the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock valued at $51,704,000 after buying an additional 26,492 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Arlo Technologies by 4.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock worth $49,281,000 after acquiring an additional 191,536 shares during the period. Wasatch Advisors LP grew its stake in Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Arlo Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 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 worth $15,319,000 after purchasing an additional 285,000 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Stock Down 2.1 %

Shares of ARLO stock opened at $11.28 on Thursday. Arlo Technologies, Inc. has a 52-week low of $8.56 and a 52-week high of $17.64. The stock has a market cap of $1.13 billion, a PE ratio of -45.12 and a beta of 1.77. The business has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $11.82.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 27,588 shares of Arlo Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value 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. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56. Following the sale, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,896 shares of company stock worth $5,433,058. 3.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ARLO has been the topic of a number of recent research reports. Craig Hallum dropped their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th.

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.