Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $677,981.88 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 59,316 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the transaction, the chief executive officer now owns 3,128,696 shares in the company, valued at $35,760,995.28. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Matthew Blake Mcrae also recently made the following trade(s):

• On Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56.
• On Monday, December 2nd, Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $11.18 on Monday. The stock’s 50-day moving average is $11.86 and its 200-day moving average is $11.88. The company has a market cap of $1.12 billion, a P/E ratio of -44.72 and a beta of 1.77. Arlo Technologies, Inc. has a 52-week low of $8.53 and a 52-week high of $17.64.

Institutional Trading of Arlo Technologies

Several hedge funds have recently added to or reduced their stakes in ARLO. State Street Corp lifted its holdings in shares of Arlo Technologies by 0.6% during the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after buying an additional 26,492 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in Arlo Technologies by 4.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares during the last quarter. Wasatch Advisors LP raised its stake in Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Arlo Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 shares during the period. Finally, Needham Investment Management LLC grew its position in Arlo Technologies by 29.1% in the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after purchasing an additional 285,000 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARLO. Craig Hallum cut their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BWS Financial reissued a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, November 8th.

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.