Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse Sells 11,475 Shares

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 11,475 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $131,159.25. Following the completion of the sale, the general counsel now owns 590,983 shares in the company, valued at $6,754,935.69. This represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Brian Busse also recently made the following trade(s):

• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total value of $105,021.62.
• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $11.18 on Friday. The business’s 50 day moving average price is $11.86 and its 200-day moving average price is $11.97. Arlo Technologies, Inc. has a fifty-two week low of $8.53 and a fifty-two week high of $17.64. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -44.72 and a beta of 1.77.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARLO. Craig Hallum decreased their price target 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. BWS Financial restated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th.

Institutional Trading of Arlo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of ARLO. State Street Corp boosted its stake 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 purchasing an additional 26,492 shares during the period. Rice Hall James & Associates LLC lifted its holdings 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 valued at $49,281,000 after buying an additional 191,536 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Arlo Technologies by 7.1% during 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 during the period. Geode Capital Management LLC increased its holdings in Arlo Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock worth $26,554,000 after purchasing an additional 48,221 shares during the period. Finally, Needham Investment Management LLC increased 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 period. Hedge funds and other institutional investors own 83.18% 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.