Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 91,999 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 91,999 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $954,029.63. Following the transaction, the chief executive officer now owns 2,660,745 shares in the company, valued at $27,591,925.65. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed 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 stock was 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 Up 16.8 %

Shares of NYSE ARLO opened at $12.43 on Friday. The firm’s 50-day moving average price is $10.03 and its 200-day moving average price is $11.12. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64. The company has a market cap of $1.29 billion, a PE ratio of -49.72 and a beta of 1.81.

Arlo Technologies (NYSE:ARLO) last issued its earnings results 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. The company had revenue of $119.07 million for the quarter, compared to analysts’ expectations of $118.35 million. Arlo Technologies had a negative net margin of 4.76% and a negative return on equity of 24.14%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, equities research analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently bought and sold shares of ARLO. Barclays PLC grew its stake in shares of Arlo Technologies by 234.5% during the 3rd 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 during the period. Sanctuary Advisors LLC grew its position in Arlo Technologies by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock valued at $555,000 after buying an additional 2,284 shares during the period. Amundi increased its holdings in Arlo Technologies by 163.1% during the fourth quarter. Amundi now owns 102,633 shares of the company’s stock valued at $1,218,000 after buying an additional 63,622 shares during the last quarter. Ieq Capital LLC bought a new position in Arlo Technologies in the fourth quarter worth approximately $121,000. Finally, Swedbank AB grew its position in shares of Arlo Technologies by 9.1% during the 4th quarter. Swedbank AB now owns 1,200,000 shares of the company’s stock valued at $13,428,000 after acquiring an additional 100,000 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARLO. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Craig Hallum increased their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Thursday, April 24th.

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.