Arlo Technologies, Inc. (NYSE:ARLO) Sees Large Decline in Short Interest

Arlo Technologies, Inc. (NYSE:ARLO) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 6,140,000 shares, a drop of 8.5% from the November 15th total of 6,710,000 shares. Based on an average daily trading volume, of 842,300 shares, the short-interest ratio is presently 7.3 days.

Insider Activity

In related news, CEO Matthew Blake Mcrae sold 316,644 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the transaction, the chief executive officer now directly owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This trade represents a 9.11 % 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 27,588 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction of $318,365.52. Following the completion of the transaction, the general counsel now directly owns 611,465 shares of the company’s stock, valued at approximately $7,056,306.10. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,330 shares of company stock worth $4,057,187 over the last quarter. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in Arlo Technologies by 3.5% during the second quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock worth $334,000 after buying an additional 871 shares during the period. GAMMA Investing LLC boosted its stake in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after purchasing an additional 1,160 shares during the period. CWM LLC boosted its stake in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the period. Quest Partners LLC boosted its stake in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Arlo Technologies by 4.7% during the second quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock valued at $640,000 after purchasing an additional 2,200 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Arlo Technologies Stock Down 5.4 %

NYSE ARLO opened at $12.39 on Monday. The company has a fifty day moving average of $11.63 and a two-hundred day moving average of $12.63. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -49.56 and a beta of 1.79. Arlo Technologies has a 52 week low of $8.33 and a 52 week high of $17.64.

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.