Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 157,851 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total value of $1,689,005.70. Following the sale, the chief executive officer now directly owns 2,558,425 shares in the company, valued at $27,375,147.50. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 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 stock was 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 value of $546,457.56.

Arlo Technologies Trading Up 3.7 %

Shares of Arlo Technologies stock traded up $0.39 during midday trading on Monday, reaching $10.92. The company had a trading volume of 703,002 shares, compared to its average volume of 926,994. The stock has a fifty day simple moving average of $11.54 and a 200 day simple moving average of $11.58. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -43.69 and a beta of 1.66.

Wall Street Analysts Forecast Growth

ARLO has been the subject of several analyst reports. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum boosted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a report on Friday, February 28th.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Arlo Technologies by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company’s stock valued at $109,902,000 after acquiring an additional 166,823 shares during the period. Brandes Investment Partners LP lifted its position in Arlo Technologies by 7.0% during 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 period. Wasatch Advisors LP lifted its position in Arlo Technologies by 21.1% during 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 period. State Street Corp grew its position in shares of Arlo Technologies by 0.6% during the 3rd quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after buying an additional 26,492 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company’s stock worth $24,838,000 after buying an additional 26,803 shares during the period. 83.18% of the stock is owned by institutional investors and hedge funds.

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.