Illinois Municipal Retirement Fund Makes New $943,000 Investment in Arlo Technologies, Inc. $ARLO

Illinois Municipal Retirement Fund bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 55,606 shares of the company’s stock, valued at approximately $943,000. Illinois Municipal Retirement Fund owned 0.05% of Arlo Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Voya Investment Management LLC lifted its stake in Arlo Technologies by 160.2% during the third quarter. Voya Investment Management LLC now owns 273,250 shares of the company’s stock worth $4,632,000 after purchasing an additional 168,248 shares during the last quarter. Katamaran Capital LLP acquired a new position in shares of Arlo Technologies during the 3rd quarter worth $1,875,000. S Squared Technology LLC lifted its position in shares of Arlo Technologies by 11.8% during the 2nd quarter. S Squared Technology LLC now owns 519,767 shares of the company’s stock worth $8,815,000 after buying an additional 54,727 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Arlo Technologies by 31.9% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 338,082 shares of the company’s stock worth $5,734,000 after buying an additional 81,800 shares during the last quarter. Finally, G2 Investment Partners Management LLC acquired a new stake in Arlo Technologies in the second quarter valued at about $2,205,000. Institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Arlo Technologies in a research note on Tuesday, November 11th. Finally, Zacks Research lowered shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Arlo Technologies Stock Down 1.5%

Arlo Technologies stock opened at $11.48 on Thursday. The firm has a 50 day moving average price of $13.28 and a 200-day moving average price of $15.51. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $19.94. The company has a market capitalization of $1.22 billion, a P/E ratio of 382.93 and a beta of 1.66.

Insiders Place Their Bets

In related news, CEO Matthew Blake Mcrae sold 257,242 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.28, for a total value of $3,673,415.76. Following the completion of the transaction, the chief executive officer directly owned 941,586 shares of the company’s stock, valued at approximately $13,445,848.08. This trade represents a 21.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.69, for a total transaction of $753,538.67. Following the sale, the chief financial officer directly owned 460,970 shares in the company, valued at $6,310,679.30. The trade was a 10.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 684,286 shares of company stock worth $9,202,544 over the last quarter. 5.20% of the stock is currently owned by company insiders.

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.