Raymond James Financial Inc. Buys Shares of 409,798 Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James Financial Inc. purchased a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 409,798 shares of the company’s stock, valued at approximately $4,586,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB boosted its position in Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after acquiring an additional 300,000 shares during the last quarter. Needham Investment Management LLC lifted its stake in shares of Arlo Technologies by 29.1% during the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after purchasing an additional 285,000 shares during the period. Wasatch Advisors LP lifted its stake in shares of Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock worth $45,374,000 after purchasing an additional 247,160 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of Arlo Technologies by 26.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after purchasing an additional 216,870 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company’s stock valued at $2,244,000 after purchasing an additional 129,889 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARLO. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum increased their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th.

Insiders Place Their Bets

In other Arlo Technologies news, General Counsel Brian Busse sold 9,007 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurtis Joseph Binder sold 184,589 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total transaction of $1,975,102.30. Following the completion of the sale, the chief financial officer now directly owns 977,457 shares of the company’s stock, valued at $10,458,789.90. The trade was a 15.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock worth $11,448,097 over the last three months. 3.80% of the stock is owned by insiders.

Arlo Technologies Trading Down 2.6 %

Shares of ARLO opened at $10.59 on Wednesday. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64. The firm has a market capitalization of $1.08 billion, a P/E ratio of -42.36 and a beta of 1.66. The stock’s fifty day simple moving average is $11.52 and its 200 day simple moving average is $11.58.

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.