Versor Investments LP Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

Versor Investments LP bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,700 shares of the company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARLO. Jupiter Asset Management Ltd. acquired a new stake in shares of Arlo Technologies during the first quarter worth approximately $885,000. Swedbank AB increased its position in shares of Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock worth $10,432,000 after purchasing an additional 250,000 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Arlo Technologies by 3,624.0% during the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock valued at $7,916,000 after buying an additional 590,778 shares in the last quarter. Engle Capital Management L.P. raised its position in shares of Arlo Technologies by 25.6% during the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after acquiring an additional 230,000 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Arlo Technologies during the second quarter worth $9,413,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Price Performance

Arlo Technologies stock opened at $11.18 on Friday. Arlo Technologies, Inc. has a 12-month low of $8.33 and a 12-month high of $17.64. The stock has a market capitalization of $1.12 billion, a PE ratio of -44.72 and a beta of 1.78. The firm has a 50 day simple moving average of $11.38 and a 200-day simple moving average of $12.68.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Craig Hallum decreased their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. Roth Mkm increased their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th.

Insider Transactions at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. The trade was a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.80% 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.