Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $1,689,005.70 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70. Following the sale, the chief executive officer now directly owns 2,558,425 shares of the company’s stock, valued at approximately $27,375,147.50. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 10th, Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00.
• 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 transaction of $546,457.56.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded up $0.39 during midday trading on Monday, hitting $10.92. The company’s stock had a trading volume of 703,002 shares, compared to its average volume of 926,994. The stock’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $11.58. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -43.69 and a beta of 1.66. Arlo Technologies, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $17.64.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum upped their target price 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 target on Arlo Technologies in a report on Friday, February 28th.

Institutional Trading of Arlo Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Arlo Technologies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company’s stock valued at $109,902,000 after acquiring an additional 166,823 shares during the period. Brandes Investment Partners LP raised its stake in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the period. State Street Corp grew its position in Arlo Technologies by 0.6% in the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after purchasing an additional 26,492 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock worth $24,838,000 after purchasing an additional 26,803 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.