Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder Sells 184,589 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 184,589 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the completion of the transaction, the chief financial officer now directly owns 977,457 shares of the company’s stock, valued at approximately $10,458,789.90. This represents a 15.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Kurtis Joseph Binder also recently made the following trade(s):

• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total value of $139,782.50.

Arlo Technologies Trading Up 3.7 %

ARLO traded up $0.39 during midday trading on Monday, hitting $10.92. 703,002 shares of the company were exchanged, compared to its average volume of 926,994. The company’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $11.58. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -43.69 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARLO. Craig Hallum boosted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in Arlo Technologies by 3.2% in the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after purchasing an additional 907 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after buying an additional 965 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after buying an additional 1,018 shares in the last quarter. Hsbc Holdings PLC grew its position in Arlo Technologies by 9.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after buying an additional 1,103 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

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.