Arlo Technologies (NYSE:ARLO) CEO Sells $454,524.42 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 35,482 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $12.81, for a total transaction of $454,524.42. Following the completion of the transaction, the chief executive officer owned 982,681 shares in the company, valued at approximately $12,588,143.61. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The stock was sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $12.06 on Friday. The firm’s 50 day simple moving average is $13.73 and its 200-day simple moving average is $15.80. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $19.94. The firm has a market cap of $1.28 billion, a PE ratio of 402.17 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $138.69 million. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.Arlo Technologies’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Equities research analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARLO. Vanguard Group Inc. lifted its position in Arlo Technologies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,691,336 shares of the company’s stock valued at $149,572,000 after acquiring an additional 32,770 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Arlo Technologies by 17.7% during the third quarter. Wasatch Advisors LP now owns 5,505,467 shares of the company’s stock worth $93,318,000 after purchasing an additional 826,587 shares in the last quarter. State Street Corp lifted its holdings in shares of Arlo Technologies by 5.3% during the 2nd quarter. State Street Corp now owns 4,272,925 shares of the company’s stock valued at $72,469,000 after purchasing an additional 215,867 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Arlo Technologies by 69.1% during the 3rd quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock valued at $43,298,000 after purchasing an additional 1,043,854 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Arlo Technologies by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,347,314 shares of the company’s stock worth $39,815,000 after purchasing an additional 60,838 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ARLO shares. Zacks Research lowered Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Monday, December 29th. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Arlo Technologies has a consensus rating of “Moderate Buy” and an average target price of $23.00.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.