The Manufacturers Life Insurance Company purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 46,390 shares of the company’s stock, valued at approximately $625,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ARLO. Hantz Financial Services Inc. increased its position in shares of Arlo Technologies by 763.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,977 shares of the company’s stock valued at $28,000 after purchasing an additional 1,748 shares during the last quarter. Quarry LP lifted its position in Arlo Technologies by 42.0% in the 3rd quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after buying an additional 783 shares during the last quarter. Strs Ohio purchased a new stake in Arlo Technologies in the first quarter worth approximately $66,000. Quadrant Capital Group LLC purchased a new stake in Arlo Technologies in the third quarter worth approximately $86,000. Finally, Quantbot Technologies LP bought a new position in Arlo Technologies during the second quarter valued at approximately $88,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
Arlo Technologies Stock Down 0.5%
Shares of ARLO opened at $13.90 on Monday. The stock has a market cap of $1.51 billion, a P/E ratio of 51.48 and a beta of 1.54. The business’s 50 day moving average price is $13.64 and its 200-day moving average price is $13.59. Arlo Technologies, Inc. has a 52 week low of $11.05 and a 52 week high of $19.94.
Insider Transactions at Arlo Technologies
In related news, CFO Kurtis Binder sold 27,297 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $15.52, for a total value of $423,649.44. Following the transaction, the chief financial officer directly owned 442,110 shares of the company’s stock, valued at approximately $6,861,547.20. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 57,775 shares of company stock valued at $845,139. Corporate insiders own 2.90% of the company’s stock.
Analyst Ratings Changes
ARLO has been the topic of several research reports. Piper Sandler lifted their price target on shares of Arlo Technologies from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of Arlo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. UBS Group set a $20.00 target price on shares of Arlo Technologies in a research report on Monday, May 18th. William Blair started coverage on shares of Arlo Technologies in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Finally, Wall Street Zen lowered Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.
Read Our Latest Stock Analysis on ARLO
Arlo Technologies Profile
Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.
Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.
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