LPL Financial LLC Buys 27,665 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

LPL Financial LLC lifted its position in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 122.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,234 shares of the company's stock after acquiring an additional 27,665 shares during the period. LPL Financial LLC owned approximately 0.05% of Arlo Technologies worth $562,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ARLO. Barclays PLC grew its stake 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 acquiring an additional 129,889 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arlo Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company's stock worth $26,554,000 after buying an additional 48,221 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Arlo Technologies by 26.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company's stock valued at $12,463,000 after purchasing an additional 216,870 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Arlo Technologies by 5.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company's stock valued at $1,380,000 after acquiring an additional 6,818 shares during the period. Finally, Hennessy Advisors Inc. increased its holdings in shares of 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 purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 83.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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. Craig Hallum increased their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on shares of Arlo Technologies in a report on Friday, February 28th.

Insider Buying and Selling at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 259,227 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total value of $3,118,500.81. Following the transaction, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. The trade was a 8.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian Busse sold 11,475 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total value of $131,159.25. Following the sale, the general counsel now directly owns 590,983 shares of the company's stock, valued at approximately $6,754,935.69. This represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 986,973 shares of company stock valued at $11,048,127. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Stock Down 0.8 %

Arlo Technologies stock traded down $0.08 during mid-day trading on Wednesday, hitting $9.85. 665,626 shares of the stock were exchanged, compared to its average volume of 910,320. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $17.64. The firm's fifty day simple moving average is $10.28 and its two-hundred day simple moving average is $11.18. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -39.40 and a beta of 1.71.

Arlo Technologies Company 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.