Katamaran Capital LLP Makes New Investment in Arlo Technologies, Inc. $ARLO

Katamaran Capital LLP purchased a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 110,634 shares of the company’s stock, valued at approximately $1,875,000. Arlo Technologies accounts for about 1.7% of Katamaran Capital LLP’s holdings, making the stock its 23rd largest position. Katamaran Capital LLP owned about 0.11% of Arlo Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ARLO. Voya Investment Management LLC lifted its stake 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 worth $4,632,000 after purchasing an additional 168,248 shares during the last quarter. S Squared Technology LLC grew its stake in Arlo Technologies by 11.8% in the second quarter. S Squared Technology LLC now owns 519,767 shares of the company’s stock valued at $8,815,000 after purchasing an additional 54,727 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Arlo Technologies by 31.9% in the second quarter. Hillsdale Investment Management Inc. now owns 338,082 shares of the company’s stock worth $5,734,000 after purchasing an additional 81,800 shares in the last quarter. G2 Investment Partners Management LLC purchased a new stake in shares of Arlo Technologies during the second quarter valued at about $2,205,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at about $1,264,000. 83.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arlo Technologies news, General Counsel Brian Busse sold 149,521 shares of Arlo Technologies stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $14.37, for a total transaction of $2,148,616.77. Following the completion of the sale, the general counsel owned 519,855 shares of the company’s stock, valued at approximately $7,470,316.35. The trade was a 22.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurtis Joseph Binder sold 55,043 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.69, for a total value of $753,538.67. Following the completion of the transaction, the chief financial officer directly owned 460,970 shares in the company, valued at $6,310,679.30. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 833,807 shares of company stock worth $11,351,161 in the last 90 days. Insiders own 3.80% of the company’s stock.

Arlo Technologies Trading Up 0.8%

Shares of Arlo Technologies stock opened at $12.50 on Tuesday. The firm’s 50 day simple moving average is $13.65 and its two-hundred day simple moving average is $15.73. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 416.81 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.

Analyst Upgrades and Downgrades

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

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.