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 dated Thursday, March 20th. The shares were 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 owns 2,558,425 shares of the company’s stock, valued at approximately $27,375,147.50. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were sold at an average price of $11.04, for a total transaction of $2,208,000.00.
• 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 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 stock was sold at an average price of $11.66, for a total value of $546,457.56.

Arlo Technologies Stock Down 2.6 %

ARLO opened at $10.59 on Wednesday. The stock’s 50 day moving average price is $11.52 and its two-hundred day moving average price is $11.58. The firm has a market capitalization of $1.08 billion, a P/E ratio of -42.36 and a beta of 1.66. Arlo Technologies, Inc. has a 12-month low of $9.92 and a 12-month high of $17.64.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in Arlo Technologies during the fourth quarter worth $4,050,000. California State Teachers Retirement System boosted its stake in Arlo Technologies by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 93,320 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,232 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Arlo Technologies by 28.6% during the fourth quarter. Mackenzie Financial Corp now owns 80,397 shares of the company’s stock worth $900,000 after purchasing an additional 17,892 shares during the last quarter. AWM Investment Company Inc. increased its stake in shares of Arlo Technologies by 168.3% in the fourth quarter. AWM Investment Company Inc. now owns 334,166 shares of the company’s stock valued at $3,739,000 after buying an additional 209,596 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arlo Technologies by 47.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company’s stock valued at $1,985,000 after buying an additional 56,799 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ARLO shares. Roth Capital set a $22.00 price objective on Arlo Technologies in a report on Friday, February 28th. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of 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.