Brian Busse Sells 26,258 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 26,258 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the sale, the general counsel now directly owns 636,485 shares of the company’s stock, valued at approximately $6,810,389.50. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 4th, Brian Busse sold 6,593 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total value of $75,819.50.
• On Wednesday, February 12th, Brian Busse sold 17,669 shares of Arlo Technologies stock. The stock was sold at an average price of $11.11, for a total transaction of $196,302.59.
• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The shares were sold at an average price of $11.43, for a total transaction of $131,159.25.
• On Wednesday, January 29th, Brian Busse sold 9,007 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total value of $105,021.62.

Arlo Technologies Stock Up 3.7 %

Shares of Arlo Technologies stock traded up $0.39 on Monday, hitting $10.92. 703,002 shares of the company traded hands, compared to its average volume of 926,994. Arlo Technologies, Inc. has a 12-month low of $9.92 and a 12-month high of $17.64. The company has a 50-day moving average price of $11.54 and a 200 day moving average price of $11.58. The company has a market cap of $1.12 billion, a PE ratio of -43.69 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARLO. Smartleaf Asset Management LLC raised its stake in shares of Arlo Technologies by 104.5% during the 4th 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 in the last quarter. 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 worth $31,000 after buying an additional 1,882 shares during the last quarter. KBC Group NV increased its holdings in Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after buying an additional 3,185 shares during the last quarter. Ieq Capital LLC bought a new position in Arlo Technologies during the fourth quarter valued at approximately $121,000. Finally, Hennessy Advisors Inc. lifted its stake 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 acquiring an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.