CANADA LIFE ASSURANCE Co Reduces Stake in Arlo Technologies, Inc. (NYSE:ARLO)

CANADA LIFE ASSURANCE Co trimmed its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,157 shares of the company’s stock after selling 6,394 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Arlo Technologies worth $1,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares in the last quarter. XTX Topco Ltd acquired a new stake in Arlo Technologies during the 4th quarter worth approximately $188,000. Barclays PLC increased its position in Arlo Technologies by 8.0% during the 4th quarter. Barclays PLC now owns 200,103 shares of the company’s stock worth $2,239,000 after purchasing an additional 14,822 shares in the last quarter. Granite Investment Partners LLC grew its position in Arlo Technologies by 13.0% in the fourth quarter. Granite Investment Partners LLC now owns 1,578,549 shares of the company’s stock valued at $17,664,000 after acquiring an additional 181,665 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Arlo Technologies in the fourth quarter valued at approximately $415,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Price Performance

Arlo Technologies stock opened at $9.90 on Tuesday. The firm has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $11.18. The stock has a market capitalization of $1.01 billion, a PE ratio of -39.60 and a beta of 1.71. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Roth Capital set a $22.00 target price on Arlo Technologies in a research note on Friday, February 28th. Craig Hallum raised their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Thursday, April 24th.

Insider Activity

In related news, CFO Kurtis Joseph Binder sold 12,155 shares of the company’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 value of $139,782.50. Following the completion of the sale, the chief financial officer now owns 837,906 shares in the company, valued at approximately $9,635,919. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 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 worth $11,448,097 over the last three months. 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.