Arlo Technologies, Inc. (NYSE:ARLO) Holdings Cut by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,513,159 shares of the company's stock after selling 83,500 shares during the period. Renaissance Technologies LLC owned 1.51% of Arlo Technologies worth $16,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Arlo Technologies by 104.5% in 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 lifted its stake in Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company's stock valued at $69,000 after buying an additional 3,185 shares in the last quarter. Ieq Capital LLC purchased a new stake in Arlo Technologies in the 4th quarter valued at approximately $121,000. Hennessy Advisors Inc. grew its holdings in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock valued at $124,000 after buying an additional 965 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new position in Arlo Technologies during the fourth quarter worth $129,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARLO has been the topic of a number of analyst reports. BWS Financial reaffirmed a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

Arlo Technologies Stock Up 0.5 %

Shares of NYSE ARLO traded up $0.05 during trading on Friday, hitting $9.21. 506,070 shares of the company traded hands, compared to its average volume of 922,424. The firm has a market capitalization of $942.94 million, a P/E ratio of -36.82 and a beta of 1.71. The company has a 50-day moving average price of $10.55 and a 200-day moving average price of $11.25. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64.

Insider Transactions at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 157,851 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,689,005.70. Following the completion of the sale, the chief executive officer now directly owns 2,558,425 shares of the company's stock, valued at approximately $27,375,147.50. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the transaction, the general counsel now directly owns 602,458 shares in the company, valued at $7,024,660.28. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,441 shares of company stock worth $11,448,097 in the last three months. 3.80% of the stock is currently owned by company insiders.

Arlo Technologies 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.