Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 91,999 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 91,999 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $954,029.63. Following the transaction, the chief executive officer now directly owns 2,660,745 shares of the company’s stock, valued at $27,591,925.65. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The stock was sold at an average price of $9.90, for a total value of $251,509.50.
• On Thursday, March 20th, Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70.
• 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 value 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.

Arlo Technologies Price Performance

Shares of NYSE:ARLO opened at $12.43 on Friday. The firm has a market capitalization of $1.29 billion, a PE ratio of -49.72 and a beta of 1.81. The business has a 50 day simple moving average of $10.03 and a two-hundred day simple moving average of $11.12. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The company had revenue of $119.07 million during the quarter, compared to analysts’ expectations of $118.35 million. During the same quarter in the previous year, the business earned $0.09 EPS. Arlo Technologies’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Arlo Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company’s stock valued at $98,244,000 after buying an additional 132,350 shares during the period. XTX Topco Ltd raised its stake in shares of Arlo Technologies by 277.6% during the first quarter. XTX Topco Ltd now owns 63,590 shares of the company’s stock valued at $628,000 after acquiring an additional 46,749 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Arlo Technologies in the first quarter valued at approximately $1,339,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arlo Technologies by 16.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,325 shares of the company’s stock worth $329,000 after purchasing an additional 4,627 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Arlo Technologies during the 1st quarter valued at $661,000. 83.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARLO. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum lifted their price target 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, BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Thursday, April 24th.

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.