Arlo Technologies (NYSE:ARLO) Shares Up 6.9% – Here’s What Happened

Arlo Technologies, Inc. (NYSE:ARLO) shares traded up 6.9% during trading on Tuesday . The stock traded as high as $12.63 and last traded at $12.63. 578,136 shares were traded during trading, a decline of 39% from the average session volume of 951,357 shares. The stock had previously closed at $11.81.

Wall Street Analyst Weigh In

ARLO has been the subject of several research analyst reports. 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 lowered their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Arlo Technologies Trading Up 8.1 %

The company has a fifty day moving average of $11.42 and a two-hundred day moving average of $12.61.

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.