Corebridge Financial Inc. Lowers Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Corebridge Financial Inc. lowered its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,144 shares of the company’s stock after selling 2,669 shares during the period. Corebridge Financial Inc.’s holdings in Arlo Technologies were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARLO. Charles Schwab Investment Management Inc. grew its stake in shares of Arlo Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company’s stock worth $12,551,000 after acquiring an additional 14,308 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Arlo Technologies by 31.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,093 shares of the company’s stock valued at $570,000 after purchasing an additional 11,149 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arlo Technologies by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company’s stock valued at $302,000 after purchasing an additional 2,253 shares during the last quarter. State Street Corp increased its stake in Arlo Technologies by 0.6% during the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock valued at $51,704,000 after purchasing an additional 26,492 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Arlo Technologies in the third quarter worth about $386,000. Institutional investors own 83.18% of the company’s stock.

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 59,316 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total transaction of $677,981.88. Following the completion of the sale, the chief executive officer now owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 26,258 shares of Arlo Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $280,960.60. Following the completion of the sale, the general counsel now owns 636,485 shares in the company, valued at approximately $6,810,389.50. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,441 shares of company stock worth $11,448,097 in the last ninety days. Insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Up 2.7 %

Shares of Arlo Technologies stock opened at $8.70 on Tuesday. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.64. The company’s 50 day moving average is $11.11 and its 200 day moving average is $11.46. The company has a market cap of $890.70 million, a price-to-earnings ratio of -34.78 and a beta of 1.71.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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 boosted their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies 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.