Arlo Technologies, Inc. (NYSE:ARLO) Shares Bought by Millrace Asset Group Inc.

Millrace Asset Group Inc. grew its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 43.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 127,131 shares of the company’s stock after buying an additional 38,550 shares during the quarter. Millrace Asset Group Inc.’s holdings in Arlo Technologies were worth $1,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARLO. Swedbank AB boosted its stake in shares of Arlo Technologies by 45.5% during the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock worth $10,432,000 after acquiring an additional 250,000 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Arlo Technologies by 3,624.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock valued at $7,916,000 after purchasing an additional 590,778 shares in the last quarter. Engle Capital Management L.P. raised its holdings in Arlo Technologies by 25.6% during the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after purchasing an additional 230,000 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Arlo Technologies in the second quarter valued at $9,413,000. Finally, Renaissance Technologies LLC increased its position in shares of Arlo Technologies by 12.2% in the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after buying an additional 154,100 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Arlo Technologies stock opened at $12.19 on Tuesday. Arlo Technologies, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $17.64. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -48.76 and a beta of 1.78. The stock has a fifty day moving average of $11.43 and a two-hundred day moving average of $12.61.

Wall Street Analyst Weigh In

ARLO has been the subject of several research reports. BWS Financial reaffirmed a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum cut their target price on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Insider Activity at Arlo Technologies

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Company 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.