Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 46,866 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 46,866 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56. Following the completion of the transaction, the chief executive officer now owns 3,161,472 shares in the company, valued at $36,862,763.52. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 traded down $0.02 on Thursday, hitting $11.71. 411,621 shares of the stock traded hands, compared to its average volume of 773,948. Arlo Technologies, Inc. has a 52 week low of $8.38 and a 52 week high of $17.64. The firm has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $12.16. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -46.82 and a beta of 1.77.

Institutional Trading of Arlo Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARLO. Swedbank AB grew its position in shares of Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after purchasing an additional 300,000 shares in the last quarter. Needham Investment Management LLC grew its holdings in Arlo Technologies by 29.1% during the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock valued at $15,319,000 after buying an additional 285,000 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Arlo Technologies by 7.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock worth $45,374,000 after acquiring an additional 247,160 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock valued at $12,463,000 after acquiring an additional 216,870 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Arlo Technologies by 4.9% in the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after purchasing an additional 191,536 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ARLO shares. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum decreased their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

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.