Algert Global LLC Sells 57,931 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Algert Global LLC trimmed its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 22.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,931 shares of the company’s stock after selling 57,931 shares during the period. Algert Global LLC’s holdings in Arlo Technologies were worth $2,445,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC boosted its stake in shares of 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 purchasing an additional 1,882 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Arlo Technologies during the 2nd quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares during the period. CWM LLC raised its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Arlo Technologies in the 2nd quarter worth about $62,000. 83.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARLO has been the subject of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research 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 report on Friday, November 8th.

Insider Activity at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.80% of the stock is owned by company insiders.

Arlo Technologies Trading Down 1.2 %

ARLO stock opened at $12.04 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of -48.76 and a beta of 1.78. The company has a 50-day moving average price of $11.43 and a 200 day moving average price of $12.61. Arlo Technologies, Inc. has a 12 month low of $8.33 and a 12 month high of $17.64.

About Arlo Technologies

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.