Public Sector Pension Investment Board Has $6.90 Million Stock Holdings in Arlo Technologies, Inc. $ARLO

Public Sector Pension Investment Board increased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,092 shares of the company’s stock after purchasing an additional 54,621 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of Arlo Technologies worth $6,900,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Illinois Municipal Retirement Fund bought a new position in Arlo Technologies in the third quarter valued at approximately $943,000. Essex Investment Management Co. LLC increased its holdings in Arlo Technologies by 3.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 193,267 shares of the company’s stock worth $3,276,000 after purchasing an additional 6,551 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Arlo Technologies in the 3rd quarter valued at about $650,000. Katamaran Capital LLP acquired a new position in shares of Arlo Technologies during the third quarter worth about $1,875,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Arlo Technologies by 86.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after buying an additional 747 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARLO has been the topic of a number of recent research reports. BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Arlo Technologies in a research report on Tuesday, November 11th. Zacks Research lowered Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Arlo Technologies Trading Up 2.2%

Shares of NYSE ARLO opened at $11.67 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 389.13 and a beta of 1.66. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $19.94. The stock has a 50 day moving average of $13.33 and a 200-day moving average of $15.54.

Insider Buying and Selling at Arlo Technologies

In other news, CEO Matthew Blake Mcrae sold 257,242 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.28, for a total transaction of $3,673,415.76. Following the completion of the sale, the chief executive officer owned 941,586 shares in the company, valued at approximately $13,445,848.08. This trade represents a 21.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Brian Busse sold 31,407 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $385,992.03. Following the completion of the transaction, the general counsel owned 552,850 shares in the company, valued at approximately $6,794,526.50. This trade represents a 5.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 684,286 shares of company stock worth $9,202,544 over the last ninety days. Insiders own 3.80% of the company’s stock.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.