Arlo Technologies (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 18,645 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 18,645 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $17.86, for a total transaction of $332,999.70. Following the completion of the transaction, the chief executive officer directly owned 1,762,121 shares of the company’s stock, valued at approximately $31,471,481.06. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, October 2nd, Matthew Blake Mcrae sold 95,430 shares of Arlo Technologies stock. The shares were sold at an average price of $16.99, for a total transaction of $1,621,355.70.
• On Tuesday, August 12th, Matthew Blake Mcrae sold 520,557 shares of Arlo Technologies stock. The shares were sold at an average price of $17.40, for a total transaction of $9,057,691.80.
• On Friday, August 8th, Matthew Blake Mcrae sold 331,625 shares of Arlo Technologies stock. The shares were sold at an average price of $17.38, for a total transaction of $5,763,642.50.

Arlo Technologies Trading Down 0.3%

Arlo Technologies stock opened at $17.69 on Thursday. The company has a market cap of $1.85 billion, a P/E ratio of -252.68 and a beta of 1.69. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $19.94. The company has a fifty day simple moving average of $17.83 and a 200 day simple moving average of $16.05.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, August 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $129.41 million during the quarter, compared to the consensus estimate of $123.33 million. Arlo Technologies had a negative net margin of 1.38% and a negative return on equity of 6.69%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. On average, equities research analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its position 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 acquiring an additional 747 shares during the period. First Horizon Advisors Inc. increased 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 period. EverSource Wealth Advisors LLC increased its position in Arlo Technologies by 1,682.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $95,000 after acquiring an additional 5,301 shares during the period. Strs Ohio bought a new position in Arlo Technologies during the first quarter worth about $66,000. Finally, Farther Finance Advisors LLC increased its position in Arlo Technologies by 75,255.6% during the third quarter. Farther Finance Advisors LLC now owns 6,782 shares of the company’s stock worth $115,000 after acquiring an additional 6,773 shares during the period. 83.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ARLO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arlo Technologies in a research note on Wednesday, October 8th. Craig Hallum increased their price target on shares of Arlo Technologies from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 8th. BWS Financial reiterated a “buy” rating and issued a $26.00 price target (up previously from $24.00) on shares of Arlo Technologies in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $22.00 price target (up previously from $15.00) on shares of Arlo Technologies in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.00.

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.