Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $3,118,500.81 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total value of $3,118,500.81. Following the sale, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. This trade represents a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 transaction of $2,208,000.00.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total value of $304,002.50.
• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total value of $677,981.88.
• On Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total value of $546,457.56.

Arlo Technologies Stock Down 0.6 %

Shares of NYSE:ARLO opened at $10.91 on Wednesday. The company’s fifty day moving average is $11.66 and its 200 day moving average is $11.65. Arlo Technologies, Inc. has a 52 week low of $9.92 and a 52 week high of $17.64. The stock has a market cap of $1.12 billion, a PE ratio of -43.62 and a beta of 1.66.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ARLO. Smartleaf Asset Management LLC boosted its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after acquiring an additional 1,191 shares during the period. Quest Partners LLC boosted its stake in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares during the period. KBC Group NV increased its stake in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after buying an additional 3,185 shares during the period. Ieq Capital LLC bought a new stake in Arlo Technologies during the 4th quarter valued at $121,000. Finally, Hennessy Advisors Inc. raised its holdings in Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after buying an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.