Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $546,457.56 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 46,866 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total value of $546,457.56. Following the completion of the sale, the chief executive officer now directly owns 3,161,472 shares of the company’s stock, valued at $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 2nd, Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $11.72 on Friday. The company has a 50-day moving average of $11.88 and a two-hundred day moving average of $12.09. The firm has a market cap of $1.18 billion, a PE ratio of -46.88 and a beta of 1.77. Arlo Technologies, Inc. has a 1-year low of $8.38 and a 1-year high of $17.64.

Analysts Set New Price Targets

Several research firms have weighed in on ARLO. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th. Craig Hallum lowered their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its stake in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after buying an additional 1,160 shares during the period. KBC Group NV lifted its stake in Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after acquiring an additional 3,185 shares in the last quarter. Hennessy Advisors Inc. boosted 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 valued at $124,000 after acquiring an additional 965 shares during the period. Finally, Choreo LLC acquired a new position in Arlo Technologies in the 4th quarter valued at about $154,000. Hedge funds and other 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.