Cwm LLC reduced its position in Arlo Technologies, Inc. (NYSE:ARLO – Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,205 shares of the company’s stock after selling 621 shares during the period. Cwm LLC’s holdings in Arlo Technologies were worth $207,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Arlo Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company’s stock worth $98,244,000 after acquiring an additional 132,350 shares in the last quarter. Emerald Advisers LLC boosted its stake in shares of Arlo Technologies by 0.8% during the 1st quarter. Emerald Advisers LLC now owns 1,679,789 shares of the company’s stock worth $16,580,000 after acquiring an additional 13,307 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Arlo Technologies by 115.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock worth $15,325,000 after acquiring an additional 830,770 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Arlo Technologies by 23.5% during the 1st quarter. Driehaus Capital Management LLC now owns 1,403,502 shares of the company’s stock valued at $13,853,000 after purchasing an additional 267,514 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Arlo Technologies by 11.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,552 shares of the company’s stock valued at $10,932,000 after purchasing an additional 116,299 shares during the period. Institutional investors own 83.18% of the company’s stock.
Arlo Technologies Trading Up 0.1%
Shares of ARLO stock opened at $19.25 on Wednesday. The stock has a 50 day moving average of $17.65 and a two-hundred day moving average of $15.65. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $19.91. The company has a market capitalization of $2.01 billion, a P/E ratio of -274.89 and a beta of 1.72.
Analyst Ratings Changes
Several analysts recently weighed in on ARLO shares. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research downgraded Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Arlo Technologies in a research note on Wednesday, October 8th. BWS Financial restated a “buy” rating and set a $26.00 target price (up previously from $24.00) on shares of Arlo Technologies in a research note on Monday, August 11th. Finally, Craig Hallum increased their target price on Arlo Technologies from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.00.
Read Our Latest Stock Analysis on ARLO
Insider Buying and Selling
In related news, CEO Matthew Blake Mcrae sold 520,557 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $17.40, for a total transaction of $9,057,691.80. Following the completion of the transaction, the chief executive officer owned 1,621,835 shares in the company, valued at $28,219,929. This trade represents a 24.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurtis Joseph Binder sold 135,494 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $16.89, for a total value of $2,288,493.66. Following the transaction, the chief financial officer owned 467,681 shares of the company’s stock, valued at $7,899,132.09. This trade represents a 22.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,339,297 shares of company stock worth $23,309,667 in the last 90 days. 3.80% of the stock is owned by company insiders.
Arlo Technologies Company 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.
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