Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $3,654,071.76 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total transaction of $3,654,071.76. Following the completion of the transaction, the chief executive officer now directly owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arlo Technologies Price Performance

Shares of NYSE:ARLO opened at $12.74 on Friday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -50.96 and a beta of 1.79. The company has a 50 day moving average of $11.47 and a 200-day moving average of $12.62. Arlo Technologies, Inc. has a one year low of $8.33 and a one year high of $17.64.

Institutional Trading of Arlo Technologies

A number of institutional investors have recently bought and sold shares of the business. Brandes Investment Partners LP boosted its holdings in Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after buying an additional 53,242 shares during the last quarter. State Street Corp raised its position in shares of Arlo Technologies by 0.6% in the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock valued at $51,704,000 after acquiring an additional 26,492 shares during the period. Rice Hall James & Associates LLC boosted 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 worth $49,281,000 after acquiring an additional 191,536 shares during the last quarter. Wasatch Advisors LP grew its holdings in Arlo Technologies by 7.1% during the third 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 period. Finally, Geode Capital Management LLC grew its holdings in Arlo Technologies by 2.2% during the third 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. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ARLO. BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum cut their price target 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.

About Arlo Technologies

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.