Hillsdale Investment Management Inc. Trims Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Hillsdale Investment Management Inc. reduced its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 32.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 251,282 shares of the company’s stock after selling 118,700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Arlo Technologies were worth $2,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Arlo Technologies by 104.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the period. Quest Partners LLC boosted its holdings in shares of Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after acquiring an additional 1,882 shares in the last quarter. KBC Group NV increased its stake in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after acquiring an additional 3,185 shares during the period. Ieq Capital LLC purchased a new position in Arlo Technologies during the fourth quarter worth about $121,000. Finally, Hennessy Advisors Inc. lifted its position in Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Price Performance

ARLO opened at $10.49 on Friday. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64. The stock has a market cap of $1.07 billion, a P/E ratio of -41.96 and a beta of 1.66. The stock’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $11.58.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 200,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $11.04, for a total value of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company’s stock, valued at $27,452,925.12. This represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now owns 602,458 shares in the company, valued at $7,024,660.28. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 648,743 shares of company stock worth $7,503,028. 3.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARLO. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Roth Capital set a $22.00 price objective on Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum boosted their target price 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.

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.