Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $954,029.63 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 91,999 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $10.37, for a total value of $954,029.63. Following the completion of the transaction, the chief executive officer now directly owns 2,660,745 shares in the company, valued at $27,591,925.65. This trade represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The shares were sold at an average price of $9.90, for a total value of $251,509.50.
• On Thursday, March 20th, Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70.
• On Monday, March 10th, Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00.
• 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 value of $3,118,500.81.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total transaction of $304,002.50.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $12.43 on Monday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64. The stock has a market capitalization of $1.29 billion, a P/E ratio of -49.72 and a beta of 1.81. The company’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $11.13.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The business had revenue of $119.07 million for the quarter, compared to analysts’ expectations of $118.35 million. During the same period last year, the business earned $0.09 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Craig Hallum upped their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Thursday, April 24th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th.

Institutional Trading of Arlo Technologies

A number of institutional investors have recently modified their holdings of ARLO. Emerald Advisers LLC grew its stake in shares of Arlo Technologies by 116.9% during the fourth quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after acquiring an additional 898,167 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after purchasing an additional 790,549 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Arlo Technologies in the 4th quarter valued at approximately $4,586,000. Westwood Holdings Group Inc. raised its position in shares of Arlo Technologies by 38.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock valued at $16,503,000 after purchasing an additional 409,489 shares during the last quarter. Finally, Brandes Investment Partners LP raised its position in shares of Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

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.