Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 305,204 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 305,204 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $16.80, for a total transaction of $5,127,427.20. Following the completion of the transaction, the chief executive officer now owns 1,796,359 shares of the company’s stock, valued at $30,178,831.20. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, June 23rd, Matthew Blake Mcrae sold 188,930 shares of Arlo Technologies stock. The stock was sold at an average price of $16.71, for a total transaction of $3,157,020.30.
• On Friday, June 20th, Matthew Blake Mcrae sold 372,488 shares of Arlo Technologies stock. The shares were sold at an average price of $17.14, for a total transaction of $6,384,444.32.
• On Thursday, May 8th, Matthew Blake Mcrae sold 91,999 shares of Arlo Technologies stock. The stock was sold at an average price of $10.37, for a total value 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 value of $251,509.50.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $16.77 on Wednesday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -76.20 and a beta of 2.01. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.70. The stock has a 50-day simple moving average of $13.30 and a 200 day simple moving average of $11.93.

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

Wall Street Analysts Forecast Growth

ARLO has been the topic of several analyst reports. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Monday, June 9th. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum lifted 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.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in Arlo Technologies by 5.0% in the 4th 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. Amundi grew its stake in shares of Arlo Technologies by 163.1% in the fourth quarter. Amundi now owns 102,633 shares of the company’s stock worth $1,218,000 after purchasing an additional 63,622 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Arlo Technologies by 1,291.1% during the first quarter. GAMMA Investing LLC now owns 71,182 shares of the company’s stock valued at $7,212,000 after purchasing an additional 66,065 shares during the period. Deutsche Bank AG raised its stake in shares of Arlo Technologies by 47.9% during the fourth quarter. Deutsche Bank AG now owns 83,197 shares of the company’s stock valued at $931,000 after purchasing an additional 26,957 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Arlo Technologies during the fourth quarter valued at about $121,000. Institutional investors and hedge funds 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.