Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 372,488 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 372,488 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $17.14, for a total transaction of $6,384,444.32. Following the sale, the chief executive officer now owns 2,290,493 shares of the company’s stock, valued at approximately $39,259,050.02. This represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, June 24th, Matthew Blake Mcrae sold 305,204 shares of Arlo Technologies stock. The stock was sold at an average price of $16.80, for a total transaction of $5,127,427.20.
• On Monday, June 23rd, Matthew Blake Mcrae sold 188,930 shares of Arlo Technologies stock. The shares were sold at an average price of $16.71, for a total transaction of $3,157,020.30.
• On Thursday, May 8th, Matthew Blake Mcrae sold 91,999 shares of Arlo Technologies stock. The shares were sold at an average price of $10.37, for a total transaction of $954,029.63.
• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The shares were sold at an average price of $9.90, for a total transaction of $251,509.50.

Arlo Technologies Trading Up 3.9%

Shares of Arlo Technologies stock opened at $17.42 on Friday. The company’s fifty day simple moving average is $13.61 and its 200-day simple moving average is $11.99. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -79.16 and a beta of 2.01. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.70.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $119.07 million for the quarter, compared to the consensus estimate of $118.35 million. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. Arlo Technologies’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ARLO. Rhumbline Advisers boosted its stake in Arlo Technologies by 2.3% during the fourth quarter. Rhumbline Advisers now owns 269,338 shares of the company’s stock worth $3,014,000 after buying an additional 6,101 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arlo Technologies by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 489,270 shares of the company’s stock worth $5,475,000 after buying an additional 16,211 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Arlo Technologies by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock worth $555,000 after buying an additional 2,284 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Arlo Technologies by 14.3% during the fourth quarter. Truist Financial Corp now owns 22,759 shares of the company’s stock valued at $255,000 after acquiring an additional 2,841 shares during the period. Finally, D.A. Davidson & CO. raised its holdings 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 buying an additional 1,018 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the subject of several analyst reports. Craig Hallum boosted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial reissued a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Monday, June 9th.

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.