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

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 91,999 shares of the stock in a transaction that occurred 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 owns 2,660,745 shares in the company, valued at approximately $27,591,925.65. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 stock was 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 shares were 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 transaction 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 ARLO stock opened at $12.43 on Friday. The business has a fifty day moving average of $10.03 and a 200 day moving average of $11.12. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -49.72 and a beta of 1.81. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.64.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, topping 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 firm had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th. BWS Financial reissued a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Thursday, April 24th. Finally, Craig Hallum upped their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARLO. Smartleaf Asset Management LLC lifted its holdings in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares during the period. KBC Group NV lifted its holdings in Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after acquiring an additional 3,185 shares during the period. GAMMA Investing LLC lifted its holdings in Arlo Technologies by 40.9% in the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock valued at $71,000 after acquiring an additional 2,095 shares during the period. Ieq Capital LLC purchased a new stake in Arlo Technologies in the 4th quarter worth approximately $121,000. Finally, Hennessy Advisors Inc. grew its stake in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.