Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 200,000 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 200,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $11.04, for a total value of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company’s stock, valued at approximately $27,452,925.12. The trade was a 7.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, March 6th, Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock. The stock was 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 shares were sold at an average price of $11.50, for a total value 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 transaction of $546,457.56.

Arlo Technologies Stock Performance

Shares of ARLO stock traded down $0.89 during mid-day trading on Monday, reaching $10.94. The company’s stock had a trading volume of 1,458,391 shares, compared to its average volume of 890,735. The firm’s 50-day moving average is $11.67 and its two-hundred day moving average is $11.66. The company has a market cap of $1.12 billion, a P/E ratio of -43.74 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Arlo Technologies by 234.5% during the third quarter. Barclays PLC now owns 185,281 shares of the company’s stock valued at $2,244,000 after purchasing an additional 129,889 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Arlo Technologies by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock worth $555,000 after buying an additional 2,284 shares during the period. Lord Abbett & CO. LLC lifted 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 worth $12,463,000 after buying an additional 216,870 shares during the period. Mutual of America Capital Management LLC boosted its stake in Arlo Technologies by 18.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company’s stock valued at $8,674,000 after buying an additional 109,200 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Arlo Technologies in the third quarter valued at $1,309,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ARLO. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum boosted their price target on Arlo Technologies from $15.00 to $17.00 and gave the company 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.

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.