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

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 26,258 shares of the company’s stock in a transaction that occurred 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 directly owns 636,485 shares of the company’s stock, valued at $6,810,389.50. The trade was a 3.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 4th, Brian Busse sold 6,593 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total transaction 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 value of $196,302.59.
• On Wednesday, February 5th, Brian Busse sold 11,475 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total value 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 Performance

NYSE:ARLO opened at $10.59 on Wednesday. The stock has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $11.58. Arlo Technologies, Inc. has a 52-week low of $9.92 and a 52-week high of $17.64. The company has a market cap of $1.08 billion, a PE ratio of -42.36 and a beta of 1.66.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Arlo Technologies

Several hedge funds have recently made changes to their positions in the business. Emerald Advisers LLC lifted its position in shares of Arlo Technologies by 116.9% in the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after purchasing an additional 898,167 shares in the last quarter. Wasatch Advisors LP increased its stake in Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after buying an additional 790,549 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Arlo Technologies in the 4th quarter valued at $4,586,000. Westwood Holdings Group Inc. lifted its position in Arlo Technologies by 38.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock worth $16,503,000 after buying an additional 409,489 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock worth $64,147,000 after buying an additional 375,903 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

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.