Matthew Blake Mcrae Sells 58,604 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 58,604 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $12.65, for a total value of $741,340.60. Following the completion of the transaction, the chief executive officer owned 957,252 shares in the company, valued at $12,109,237.80. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, February 6th, Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock. The stock was sold at an average price of $12.29, for a total value of $1,171,556.54.
• On Thursday, February 5th, Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock. The stock was sold at an average price of $12.38, for a total value of $223,892.30.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total transaction of $454,524.42.
• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The stock was sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Trading Up 3.2%

Shares of Arlo Technologies stock traded up $0.39 on Friday, reaching $12.41. 1,512,499 shares of the stock were exchanged, compared to its average volume of 1,254,114. The firm 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. The business has a fifty day moving average price of $13.69 and a two-hundred day moving average price of $15.77.

Arlo Technologies (NYSE:ARLO) last announced 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. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company had revenue of $139.53 million for the quarter, compared to analyst estimates of $138.69 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

ARLO has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. BWS Financial restated a “buy” rating and set a $26.00 target price on shares of Arlo Technologies in a research report on Tuesday, November 11th. Zacks Research cut shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Arlo Technologies by 86.0% during the 3rd 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 last quarter. Quarry LP increased its holdings in Arlo Technologies by 42.0% during the 3rd quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after acquiring an additional 783 shares in the last quarter. First Horizon Advisors Inc. raised its position in Arlo Technologies by 161.4% during the second quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after acquiring an additional 1,988 shares during the last quarter. Strs Ohio purchased a new stake in shares of Arlo Technologies in the first quarter valued at about $66,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Arlo Technologies in the third quarter valued at about $86,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Company Profile

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.