Arlo Technologies shares fall 7.9% amid institutional investment shifts

Arlo Technologies, Inc. (NYSE:ARLO) experienced a 7.9% drop in its share price during mid-day trading on Monday, reaching a low of $13.75. The stock had previously closed at $15.23. Despite the price decline, the company maintains a consensus rating of “Moderate Buy” among analysts, with a consensus price target of $20.60.

Institutional activity shows significant holdings by various firms. Wasatch Advisors LP increased its position in Arlo Technologies by 9.0% during the second quarter, bringing its total ownership to approximately 5.45% of the company. Other notable institutional moves include Bank of America Corp DE increasing its stake by 27.8% in the first quarter and Janus Henderson Group PLC increasing its holdings by 74.0% during the same period.