Illinois Municipal Retirement Fund Takes Position in Arlo Technologies, Inc. $ARLO

Illinois Municipal Retirement Fund acquired a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 55,606 shares of the company’s stock, valued at approximately $943,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Voya Investment Management LLC grew its holdings in shares of Arlo Technologies by 160.2% during the 3rd quarter. Voya Investment Management LLC now owns 273,250 shares of the company’s stock valued at $4,632,000 after purchasing an additional 168,248 shares during the last quarter. Katamaran Capital LLP purchased a new position in shares of Arlo Technologies in the third quarter worth about $1,875,000. S Squared Technology LLC lifted its stake in shares of Arlo Technologies by 11.8% in the 2nd quarter. S Squared Technology LLC now owns 519,767 shares of the company’s stock valued at $8,815,000 after acquiring an additional 54,727 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Arlo Technologies by 31.9% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 338,082 shares of the company’s stock valued at $5,734,000 after acquiring an additional 81,800 shares during the last quarter. Finally, G2 Investment Partners Management LLC purchased a new stake in Arlo Technologies during the 2nd quarter valued at about $2,205,000. 83.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ARLO. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a research note on Tuesday, November 11th. Finally, Zacks Research cut Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Activity

In other news, CEO Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $12.29, for a total value of $1,171,556.54. Following the completion of the transaction, the chief executive officer owned 1,011,288 shares in the company, valued at approximately $12,428,729.52. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $13.69, for a total value of $753,538.67. Following the transaction, the chief financial officer directly owned 460,970 shares in the company, valued at approximately $6,310,679.30. This represents a 10.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 684,286 shares of company stock valued at $9,202,544 in the last ninety days. Insiders own 5.20% of the company’s stock.

Arlo Technologies Stock Down 1.5%

NYSE ARLO opened at $11.48 on Thursday. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $19.94. The business has a 50-day moving average price of $13.28 and a 200-day moving average price of $15.51. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 382.93 and a beta of 1.66.

Arlo Technologies Profile

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.