Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 243,302 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 243,302 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $16.87, for a total transaction of $4,104,504.74. Following the transaction, the chief executive officer now directly owns 1,553,057 shares in the company, valued at $26,200,071.59. The trade was a 13.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, June 26th, Matthew Blake Mcrae sold 113,322 shares of Arlo Technologies stock. The stock was sold at an average price of $17.22, for a total transaction of $1,951,404.84.
• On Tuesday, June 24th, Matthew Blake Mcrae sold 305,204 shares of Arlo Technologies stock. The shares were sold at an average price of $16.80, for a total value 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 value 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 value of $6,384,444.32.
• 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 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 Price Performance

Shares of NYSE ARLO opened at $17.20 on Friday. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.70. The business’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $12.02. The firm has a market capitalization of $1.78 billion, a PE ratio of -78.16 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 21.67% and a negative net margin of 4.29%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARLO. Craig Hallum upped their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Monday, June 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARLO. Vanguard Group Inc. increased its holdings in shares of Arlo Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company’s stock valued at $98,244,000 after purchasing an additional 132,350 shares during the period. Brandes Investment Partners LP increased its holdings in shares of Arlo Technologies by 7.0% during the fourth quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the period. Wasatch Advisors LP increased its holdings in shares of Arlo Technologies by 21.1% during the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the period. Geode Capital Management LLC increased its holdings in shares of Arlo Technologies by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock valued at $24,838,000 after purchasing an additional 26,803 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Arlo Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,711,116 shares of the company’s stock valued at $19,147,000 after purchasing an additional 179,288 shares during the period. Institutional investors own 83.18% of the company’s stock.

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.