Wells Fargo & Company MN Raises Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Wells Fargo & Company MN raised its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,488 shares of the company’s stock after acquiring an additional 16,383 shares during the quarter. Wells Fargo & Company MN owned approximately 0.05% of Arlo Technologies worth $599,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Landscape Capital Management L.L.C. lifted its holdings in Arlo Technologies by 370.3% in the 4th quarter. Landscape Capital Management L.L.C. now owns 237,590 shares of the company’s stock worth $2,659,000 after purchasing an additional 187,072 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of Arlo Technologies by 105.4% in the fourth quarter. Trexquant Investment LP now owns 391,129 shares of the company’s stock worth $4,377,000 after buying an additional 200,667 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arlo Technologies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock worth $24,838,000 after buying an additional 26,803 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Arlo Technologies during the fourth quarter worth $4,050,000. Finally, JPMorgan Chase & Co. grew its stake in Arlo Technologies by 36.1% during the fourth quarter. JPMorgan Chase & Co. now owns 79,515 shares of the company’s stock valued at $890,000 after acquiring an additional 21,081 shares in the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARLO has been the subject of several research reports. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum raised their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Thursday, April 24th.

Insiders Place Their Bets

In related news, CEO Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the completion of the transaction, the chief executive officer now directly owns 3,128,696 shares of the company’s stock, valued at approximately $35,760,995.28. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 6,593 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total transaction of $75,819.50. Following the completion of the sale, the general counsel now directly owns 612,743 shares in the company, valued at $7,046,544.50. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 986,973 shares of company stock valued at $11,048,127 over the last ninety days. 3.80% of the stock is owned by insiders.

Arlo Technologies Trading Up 2.7 %

Shares of NYSE ARLO opened at $10.36 on Friday. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.64. The firm’s 50-day moving average price is $10.19 and its 200-day moving average price is $11.15. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -41.44 and a beta of 1.71.

Arlo Technologies Profile

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.