Raymond James Financial Inc. Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

Raymond James Financial Inc. acquired a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 409,798 shares of the company's stock, valued at approximately $4,586,000. Raymond James Financial Inc. owned approximately 0.41% of Arlo Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Arlo Technologies by 104.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock valued at $26,000 after purchasing an additional 1,191 shares in the last quarter. KBC Group NV boosted its position in Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock worth $69,000 after buying an additional 3,185 shares during the period. Ieq Capital LLC bought a new stake in Arlo Technologies during the 4th quarter worth approximately $121,000. Hennessy Advisors Inc. increased its position in Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after acquiring an additional 965 shares during the period. Finally, Balboa Wealth Partners bought a new position in shares of Arlo Technologies during the fourth quarter valued at $129,000. Institutional investors own 83.18% of the company's stock.

Arlo Technologies Stock Performance

Shares of ARLO stock traded up $0.14 during mid-day trading on Thursday, hitting $9.97. The company's stock had a trading volume of 123,435 shares, compared to its average volume of 907,265. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.64. The company's fifty day simple moving average is $10.25 and its 200-day simple moving average is $11.17. The company has a market cap of $1.02 billion, a PE ratio of -39.91 and a beta of 1.71.

Insiders Place Their Bets

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 12,155 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the completion of the sale, the chief financial officer now owns 837,906 shares of the company's stock, valued at approximately $9,635,919. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian Busse sold 11,475 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total value of $131,159.25. Following the completion of the transaction, the general counsel now owns 590,983 shares in the company, 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 three months, insiders sold 986,973 shares of company stock worth $11,048,127. 3.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.