361,900 Shares in Arlo Technologies, Inc. (NYSE:ARLO) Purchased by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 361,900 shares of the company's stock, valued at approximately $4,050,000. Wellington Management Group LLP owned 0.36% of Arlo Technologies as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARLO. BWS Financial restated a "buy" rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum boosted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th.

Arlo Technologies Stock Down 1.1 %

Shares of NYSE ARLO traded down $0.10 during trading hours on Thursday, reaching $9.06. 96,687 shares of the stock traded hands, compared to its average volume of 918,479. The company has a market capitalization of $928.09 million, a P/E ratio of -36.28 and a beta of 1.71. The company's 50-day simple moving average is $10.64 and its two-hundred day simple moving average is $11.29. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64.

Insiders Place Their Bets

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 46,866 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 value of $546,457.56. Following the transaction, the chief executive officer now directly owns 3,161,472 shares of the company's stock, valued at $36,862,763.52. The trade was a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Busse sold 26,258 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $280,960.60. Following the sale, the general counsel now directly owns 636,485 shares of the company's stock, valued at approximately $6,810,389.50. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,017,441 shares of company stock valued at $11,448,097. 3.80% of the stock is currently owned by corporate insiders.

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.