Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Sells 9,007 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 9,007 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares of the company’s stock, valued at approximately $7,024,660.28. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Busse also recently made the following trade(s):

• On Monday, December 2nd, Brian Busse sold 27,588 shares of Arlo Technologies stock. The shares were sold at an average price of $11.54, for a total value of $318,365.52.

Arlo Technologies Price Performance

Shares of Arlo Technologies stock traded down $0.02 during trading hours on Thursday, reaching $11.71. The company had a trading volume of 411,621 shares, compared to its average volume of 773,948. Arlo Technologies, Inc. has a one year low of $8.38 and a one year high of $17.64. The firm has a market cap of $1.17 billion, a PE ratio of -46.82 and a beta of 1.77. The business has a fifty day simple moving average of $11.89 and a 200 day simple moving average of $12.16.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC boosted its stake in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares during the period. GAMMA Investing LLC raised its holdings in shares of Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after acquiring an additional 1,160 shares in the last quarter. KBC Group NV boosted its position in shares of Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after acquiring an additional 3,185 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of Arlo Technologies in the fourth quarter worth approximately $154,000. Institutional investors own 83.18% of the company’s stock.

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.