Matthew Blake Mcrae Sells 305,204 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 305,204 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $16.80, for a total value of $5,127,427.20. Following the transaction, the chief executive officer now directly owns 1,796,359 shares in the company, valued at $30,178,831.20. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $17.14, for a total transaction 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 transaction of $954,029.63.
• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The stock was sold at an average price of $9.90, for a total transaction of $251,509.50.

Arlo Technologies Stock Performance

NYSE ARLO opened at $16.73 on Thursday. The stock has a market cap of $1.74 billion, a PE ratio of -76.05 and a beta of 2.01. The firm has a 50-day moving average of $13.45 and a 200-day moving average of $11.96. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.70.

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 the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The firm had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Trading of Arlo Technologies

Hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after buying an additional 1,191 shares in the last quarter. Strs Ohio acquired a new stake in shares of Arlo Technologies during the first quarter worth $66,000. GAMMA Investing LLC boosted its position in shares of Arlo Technologies by 40.9% in the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock valued at $71,000 after acquiring an additional 2,095 shares during the period. Magnetar Financial LLC acquired a new position in shares of Arlo Technologies in the first quarter valued at about $117,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Arlo Technologies in the first quarter valued at about $119,000. 83.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.