Hillsdale Investment Management Inc. Acquires 48,200 Shares of Arlo Technologies, Inc. $ARLO

Hillsdale Investment Management Inc. boosted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 386,282 shares of the company’s stock after acquiring an additional 48,200 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Arlo Technologies were worth $6,547,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Arlo Technologies by 2.4% during the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company’s stock worth $496,000 after purchasing an additional 692 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Arlo Technologies by 2.3% during the third quarter. Arizona State Retirement System now owns 30,597 shares of the company’s stock valued at $519,000 after buying an additional 702 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Arlo Technologies by 86.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock valued at $28,000 after buying an additional 747 shares during the last quarter. Bank of Montreal Can grew its holdings in Arlo Technologies by 5.4% during the second quarter. Bank of Montreal Can now owns 15,694 shares of the company’s stock worth $266,000 after buying an additional 810 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in Arlo Technologies by 9.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,155 shares of the company’s stock valued at $172,000 after buying an additional 838 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Price Performance

NYSE ARLO opened at $11.63 on Friday. The business’s fifty day moving average is $13.17 and its 200-day moving average is $15.45. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 387.63 and a beta of 1.66. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $19.94.

Insiders Place Their Bets

In other news, General Counsel Brian Busse sold 31,407 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $385,992.03. Following the completion of the sale, the general counsel owned 552,850 shares in the company, valued at $6,794,526.50. This trade represents a 5.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $12.29, for a total transaction of $1,171,556.54. Following the completion of the sale, the chief executive officer directly owned 1,011,288 shares in the company, valued at $12,428,729.52. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 684,286 shares of company stock valued at $9,202,544. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARLO shares. Weiss Ratings cut Arlo Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Arlo Technologies in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arlo Technologies has an average rating of “Hold” and a consensus target price of $23.00.

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.