Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 200,000 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 200,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $11.04, for a total transaction of $2,208,000.00. Following the completion of the sale, the chief executive officer now owns 2,486,678 shares in the company, valued at $27,452,925.12. This represents a 7.44 % decrease in their position. The sale 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, 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 shares were sold at an average price of $11.50, for a total transaction of $304,002.50.
• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88.
• On Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56.

Arlo Technologies Stock Down 2.7 %

Arlo Technologies stock opened at $10.64 on Thursday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -42.54 and a beta of 1.66. Arlo Technologies, Inc. has a 12-month low of $9.92 and a 12-month high of $17.64. The stock has a 50-day simple moving average of $11.65 and a 200 day simple moving average of $11.65.

Analyst Upgrades and Downgrades

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

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Arlo Technologies by 3.2% during the 4th quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock worth $325,000 after purchasing an additional 907 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in 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 last quarter. D.A. Davidson & CO. raised its holdings in Arlo Technologies by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,018 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock worth $140,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

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.