Arlo Technologies, Inc. (NYSE:ARLO) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 122.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,234 shares of the company’s stock after purchasing an additional 27,665 shares during the period. LPL Financial LLC owned approximately 0.05% of Arlo Technologies worth $562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brandes Investment Partners LP lifted its position in shares of Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after acquiring an additional 375,903 shares during the period. Geode Capital Management LLC raised its holdings in 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 during the last quarter. Royce & Associates LP boosted its position in Arlo Technologies by 16.3% during the fourth quarter. Royce & Associates LP now owns 1,637,080 shares of the company’s stock worth $18,319,000 after purchasing an additional 229,450 shares in the last quarter. Swedbank AB grew its holdings in Arlo Technologies by 9.1% in the fourth quarter. Swedbank AB now owns 1,200,000 shares of the company’s stock valued at $13,428,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arlo Technologies by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,905 shares of the company’s stock valued at $11,715,000 after purchasing an additional 10,505 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ARLO. Craig Hallum boosted their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Thursday. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Stock Up 3.8 %

Shares of NYSE:ARLO opened at $9.75 on Friday. The company has a market capitalization of $998.77 million, a P/E ratio of -39.00 and a beta of 1.71. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The stock’s fifty day simple moving average is $10.38 and its 200-day simple moving average is $11.20.

Insider Activity at Arlo Technologies

In other news, General Counsel Brian Busse sold 26,258 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the completion of the transaction, the general counsel now owns 636,485 shares of the company’s stock, valued at $6,810,389.50. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Blake Mcrae sold 59,316 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the transaction, the chief executive officer now directly owns 3,128,696 shares in the company, valued at $35,760,995.28. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,017,441 shares of company stock valued at $11,448,097. 3.80% of the stock is owned by insiders.

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.