Thrivent Financial for Lutherans Trims Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Thrivent Financial for Lutherans decreased its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,478 shares of the company’s stock after selling 2,527 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Arlo Technologies worth $950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ARLO. Price T Rowe Associates Inc. MD grew its holdings in Arlo Technologies by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 66,551 shares of the company’s stock valued at $842,000 after purchasing an additional 3,242 shares during the period. Cetera Advisors LLC acquired a new position in Arlo Technologies in the first quarter valued at $421,000. GAMMA Investing LLC increased its stake in Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Arlo Technologies by 78.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,661 shares of the company’s stock worth $243,000 after purchasing an additional 8,216 shares during the period. Finally, CWM LLC lifted its stake in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $11.81 on Tuesday. The business’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $12.61. The company has a market cap of $1.19 billion, a P/E ratio of -47.24 and a beta of 1.78. Arlo Technologies, Inc. has a one year low of $8.33 and a one year high of $17.64.

Insider Activity

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

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.