Texas Permanent School Fund Buys 3,017 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Texas Permanent School Fund increased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLOGet Rating) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,781 shares of the company’s stock after acquiring an additional 3,017 shares during the quarter. Texas Permanent School Fund’s holdings in Arlo Technologies were worth $394,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in Arlo Technologies during the second quarter worth about $115,000. Royce & Associates LP increased its position in Arlo Technologies by 5.2% during the second quarter. Royce & Associates LP now owns 1,090,086 shares of the company’s stock worth $6,835,000 after acquiring an additional 53,400 shares during the period. Herald Investment Management Ltd increased its holdings in Arlo Technologies by 31.3% in the 2nd quarter. Herald Investment Management Ltd now owns 927,000 shares of the company’s stock valued at $5,803,000 after buying an additional 220,756 shares during the period. Russell Investments Group Ltd. increased its holdings in Arlo Technologies by 30.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 138,765 shares of the company’s stock valued at $868,000 after buying an additional 31,997 shares during the period. Finally, Arizona State Retirement System bought a new position in Arlo Technologies in the 2nd quarter valued at about $144,000. 73.77% of the stock is owned by institutional investors.

Arlo Technologies Trading Down 2.0 %

ARLO opened at $3.94 on Wednesday. The company’s 50 day moving average is $4.66 and its 200-day moving average is $5.95. Arlo Technologies, Inc. has a 1-year low of $2.93 and a 1-year high of $11.79. The company has a market cap of $348.58 million, a P/E ratio of -8.38 and a beta of 1.67.

Insider Activity

In related news, CEO Matthew Blake Mcrae purchased 20,400 shares of Arlo Technologies stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $2.97 per share, for a total transaction of $60,588.00. Following the purchase, the chief executive officer now owns 1,724,039 shares in the company, valued at approximately $5,120,395.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arlo Technologies news, Director Grady Summers bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $114,000.00. Following the transaction, the director now directly owns 219,729 shares in the company, valued at $834,970.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Blake Mcrae bought 20,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were acquired at an average price of $2.97 per share, for a total transaction of $60,588.00. Following the completion of the transaction, the chief executive officer now owns 1,724,039 shares in the company, valued at $5,120,395.83. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 54,246 shares of company stock worth $190,203. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ARLO has been the topic of several recent analyst reports. BWS Financial decreased their target price on shares of Arlo Technologies from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Raymond James decreased their target price on shares of Arlo Technologies from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th.

About Arlo Technologies

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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. It combines an intelligent cloud infrastructure and mobile app with various smart connected devices. The company offers Arlo essential indoor camera; Arlo Go 2 LTE/Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allows users to monitor their surroundings; and Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile security.

See Also

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Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

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