Arlo Technologies (NYSE:ARLO) Trading Down 5.3% – Time to Sell?

Arlo Technologies, Inc. (NYSE:ARLO) traded down 5.3% during trading on Wednesday . The stock traded as low as $11.38 and last traded at $11.40. 464,384 shares changed hands during trading, a decline of 51% from the average session volume of 950,420 shares. The stock had previously closed at $12.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARLO shares. Craig Hallum cut their price objective 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 reaffirmed a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th.

Arlo Technologies Price Performance

The company has a 50-day simple moving average of $11.43 and a 200 day simple moving average of $12.60.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Arlo Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in ARLO. Brandes Investment Partners LP lifted its position in shares of Arlo Technologies by 1.0% during the 2nd quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after buying an additional 53,242 shares in the last quarter. State Street Corp lifted its holdings in 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 in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Arlo Technologies by 4.9% during the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares in the last quarter. Wasatch Advisors LP grew its position 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 valued at $45,374,000 after purchasing an additional 247,160 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Arlo Technologies by 2.2% during the third 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 in the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

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.