Rockefeller Capital Management L.P. Purchases New Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Rockefeller Capital Management L.P. bought a new position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 37,127 shares of the company's stock, valued at approximately $415,000.

A number of other institutional investors have also made changes to their positions in the company. Barclays PLC raised its position in shares of Arlo Technologies by 234.5% during the 3rd quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after purchasing an additional 129,889 shares during the period. Geode Capital Management LLC increased its stake in shares of Arlo Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company's stock valued at $26,554,000 after acquiring an additional 48,221 shares during the period. Lord Abbett & CO. LLC raised its holdings in 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 in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Arlo Technologies by 5.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company's stock worth $1,380,000 after purchasing an additional 6,818 shares during the period. Finally, Hennessy Advisors Inc. grew its holdings in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock worth $124,000 after acquiring an additional 965 shares during the period. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Price Performance

ARLO stock traded down $0.02 on Tuesday, reaching $9.88. 60,583 shares of the company were exchanged, compared to its average volume of 912,183. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $17.64. The stock's fifty day moving average price is $10.31 and its 200 day moving average price is $11.18. The firm has a market capitalization of $1.01 billion, a PE ratio of -39.52 and a beta of 1.71.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ARLO shares. Craig Hallum increased their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. BWS Financial reaffirmed a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Thursday, April 24th. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th.

Insider Activity at Arlo Technologies

In related news, General Counsel Brian Busse sold 6,593 shares of Arlo Technologies stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $75,819.50. Following the completion of the transaction, the general counsel now directly owns 612,743 shares of the company's stock, valued at $7,046,544.50. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 157,851 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total value of $1,689,005.70. Following the completion of the transaction, the chief executive officer now directly owns 2,558,425 shares in the company, valued at $27,375,147.50. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,017,441 shares of company stock worth $11,448,097. Company insiders own 3.80% of the company's stock.

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.