Sei Investments Co. Sells 101,081 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Sei Investments Co. lessened its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 80.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,979 shares of the company's stock after selling 101,081 shares during the quarter. Sei Investments Co.'s holdings in Arlo Technologies were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARLO. Brandes Investment Partners LP raised its stake in shares of Arlo Technologies by 7.0% during the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock valued at $64,147,000 after acquiring an additional 375,903 shares during the last quarter. State Street Corp increased its stake in shares of Arlo Technologies by 0.6% during the third quarter. State Street Corp now owns 4,269,561 shares of the company's stock valued at $51,704,000 after buying an additional 26,492 shares during the period. Geode Capital Management LLC raised its holdings 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 in the last quarter. Royce & Associates LP lifted its stake in Arlo Technologies by 16.3% in the fourth quarter. Royce & Associates LP now owns 1,637,080 shares of the company's stock worth $18,319,000 after acquiring an additional 229,450 shares during the period. Finally, Swedbank AB increased its position in Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company's stock valued at $13,428,000 after purchasing an additional 100,000 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARLO. BWS Financial reiterated a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum raised their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a report on Friday, February 28th.

Arlo Technologies Price Performance

Arlo Technologies stock traded down $0.03 during mid-day trading on Wednesday, reaching $9.16. The stock had a trading volume of 32,404 shares, compared to its average volume of 919,409. The company has a market capitalization of $937.82 million, a price-to-earnings ratio of -36.62 and a beta of 1.71. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.64. The company has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $11.30.

Insider Activity at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $139,782.50. Following the completion of the transaction, the chief financial officer now directly owns 837,906 shares of the company's stock, valued at $9,635,919. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now directly owns 602,458 shares of the company's stock, valued at approximately $7,024,660.28. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,017,441 shares of company stock valued at $11,448,097 over the last 90 days. Corporate insiders own 3.80% of the company's stock.

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.