Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 200,000 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 200,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $11.04, for a total value of $2,208,000.00. Following the completion of the transaction, the chief executive officer now owns 2,486,678 shares in the company, valued at $27,452,925.12. This represents a 7.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 6th, Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock. The shares were sold at an average price of $12.03, for a total transaction of $3,118,500.81.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total transaction of $304,002.50.
• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88.
• 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 value of $546,457.56.

Arlo Technologies Price Performance

NYSE:ARLO traded down $0.89 during trading hours on Monday, reaching $10.94. The company’s stock had a trading volume of 1,458,391 shares, compared to its average volume of 890,735. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64. The business’s 50-day moving average is $11.67 and its 200-day moving average is $11.66. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -43.74 and a beta of 1.66.

Institutional Trading of Arlo Technologies

Large investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of Arlo Technologies by 3.2% in the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock valued at $325,000 after acquiring an additional 907 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after purchasing an additional 965 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Arlo Technologies by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock valued at $1,029,000 after purchasing an additional 1,018 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Arlo Technologies by 9.7% in the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock worth $140,000 after buying an additional 1,103 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after buying an additional 1,191 shares during the period. Institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

ARLO has been the topic of a number of recent research reports. Craig Hallum boosted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. BWS Financial reissued a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research report on Friday, February 28th.

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.