Arlo Technologies (NYSE:ARLO) General Counsel Brian Busse Sells 15,922 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 15,922 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $12.65, for a total transaction of $201,413.30. Following the completion of the sale, the general counsel owned 526,847 shares in the company, valued at $6,664,614.55. This represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Brian Busse also recently made the following trade(s):

• On Friday, February 6th, Brian Busse sold 31,407 shares of Arlo Technologies stock. The stock was sold at an average price of $12.29, for a total value of $385,992.03.
• On Friday, January 30th, Brian Busse sold 8,245 shares of Arlo Technologies stock. The stock was sold at an average price of $12.81, for a total value of $105,618.45.
• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total transaction of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The shares were sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Trading Up 3.2%

ARLO opened at $12.41 on Friday. The firm’s 50 day simple moving average is $13.69 and its two-hundred day simple moving average is $15.77. The company has a market capitalization of $1.32 billion, a PE ratio of 413.80 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $19.94.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $138.69 million. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Equities analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARLO. Amalgamated Bank lifted its stake in shares of Arlo Technologies by 2.4% in the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company’s stock valued at $496,000 after purchasing an additional 692 shares during the last quarter. Arizona State Retirement System lifted its position in Arlo Technologies by 2.3% in the third quarter. Arizona State Retirement System now owns 30,597 shares of the company’s stock worth $519,000 after buying an additional 702 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Arlo Technologies by 86.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after buying an additional 747 shares during the period. Quarry LP increased its position in Arlo Technologies by 42.0% during the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after acquiring an additional 783 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Arlo Technologies by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARLO. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Arlo Technologies in a research note on Tuesday, November 11th. Finally, Zacks Research cut Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Arlo Technologies currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Arlo Technologies News Summary

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.