Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO – Free Report) by 79.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,622 shares of the company’s stock after selling 56,922 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Arlo Technologies were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of ARLO. First Horizon Advisors Inc. increased its position in Arlo Technologies by 161.4% in the second quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after buying an additional 1,988 shares during the last quarter. Strs Ohio bought a new position in shares of Arlo Technologies during the 1st quarter worth $66,000. EverSource Wealth Advisors LLC increased its holdings in Arlo Technologies by 1,682.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $95,000 after acquiring an additional 5,301 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Arlo Technologies by 75,255.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,782 shares of the company’s stock worth $115,000 after acquiring an additional 6,773 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Arlo Technologies in the 2nd quarter valued at about $132,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.
Arlo Technologies Price Performance
NYSE ARLO opened at $12.72 on Wednesday. The company’s 50 day simple moving average is $13.81 and its two-hundred day simple moving average is $15.84. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $19.94. The stock has a market capitalization of $1.35 billion, a PE ratio of 423.97 and a beta of 1.66.
Insider Activity
In related news, CFO Kurtis Joseph Binder sold 55,043 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $13.69, for a total value of $753,538.67. Following the transaction, the chief financial officer owned 460,970 shares of the company’s stock, valued at $6,310,679.30. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $12.81, for a total value of $454,524.42. Following the sale, the chief executive officer directly owned 982,681 shares of the company’s stock, valued at approximately $12,588,143.61. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 614,463 shares of company stock worth $8,626,966. 3.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ARLO shares. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Arlo Technologies in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Zacks Research lowered Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.
Read Our Latest Report on Arlo Technologies
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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