Barclays PLC Increases Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Barclays PLC raised its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 234.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,281 shares of the company’s stock after acquiring an additional 129,889 shares during the period. Barclays PLC’s holdings in Arlo Technologies were worth $2,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Emerald Advisers LLC bought a new position in Arlo Technologies in the 2nd quarter worth about $11,528,000. Emerald Mutual Fund Advisers Trust purchased a new position in Arlo Technologies in the 2nd quarter worth approximately $9,413,000. Westwood Holdings Group Inc. boosted its stake in Arlo Technologies by 289.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock valued at $12,274,000 after purchasing an additional 699,724 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after purchasing an additional 590,778 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after buying an additional 300,000 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Brian Busse sold 27,588 shares of Arlo Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $318,365.52. Following the sale, the general counsel now directly owns 611,465 shares in the company, valued at $7,056,306.10. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,330 shares of company stock valued at $4,057,187. 3.80% of the stock is owned by corporate insiders.

Arlo Technologies Stock Up 1.3 %

NYSE ARLO opened at $11.54 on Thursday. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64. The company has a market capitalization of $1.16 billion, a P/E ratio of -46.16 and a beta of 1.79. The stock’s 50-day moving average price is $11.73 and its 200-day moving average price is $12.52.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARLO shares. Craig Hallum reduced their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th.

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.