Wellington Management Group LLP Purchases Shares of 361,900 Arlo Technologies, Inc. (NYSE:ARLO)

Wellington Management Group LLP acquired a new position in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Emerald Advisers LLC raised its holdings in shares of Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after buying an additional 898,167 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Arlo Technologies during the fourth quarter worth $4,586,000. Brandes Investment Partners LP lifted its holdings in shares of Arlo Technologies by 7.0% during the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after acquiring an additional 375,903 shares during the period. Royce & Associates LP boosted its stake in shares of Arlo Technologies by 16.3% in the 4th quarter. Royce & Associates LP now owns 1,637,080 shares of the company’s stock valued at $18,319,000 after purchasing an additional 229,450 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Arlo Technologies by 26.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after purchasing an additional 216,870 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Insider Activity

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 46,866 shares of the firm’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 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 approximately $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. 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 11,475 shares of Arlo Technologies stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total transaction of $131,159.25. Following the sale, the general counsel now directly owns 590,983 shares of the company’s stock, valued at $6,754,935.69. This represents a 1.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,017,441 shares of company stock valued at $11,448,097 over the last 90 days. 3.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARLO. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on Arlo Technologies in a research report on Friday, February 28th.

Arlo Technologies Price Performance

ARLO opened at $8.86 on Friday. The stock has a market capitalization of $908.01 million, a P/E ratio of -35.46 and a beta of 1.71. The company’s 50 day simple moving average is $10.77 and its 200-day simple moving average is $11.34. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.64.

Arlo Technologies 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.