Matthew Blake Mcrae Sells 188,930 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 188,930 shares of Arlo Technologies stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $16.71, for a total transaction of $3,157,020.30. Following the sale, the chief executive officer now owns 2,101,563 shares of the company’s stock, valued at $35,117,117.73. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, June 24th, Matthew Blake Mcrae sold 305,204 shares of Arlo Technologies stock. The shares were sold at an average price of $16.80, for a total value of $5,127,427.20.
• On Friday, June 20th, Matthew Blake Mcrae sold 372,488 shares of Arlo Technologies stock. The stock was sold at an average price of $17.14, for a total value of $6,384,444.32.
• On Thursday, May 8th, Matthew Blake Mcrae sold 91,999 shares of Arlo Technologies stock. The shares were sold at an average price of $10.37, for a total value of $954,029.63.
• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The stock was sold at an average price of $9.90, for a total value of $251,509.50.

Arlo Technologies Stock Down 0.4%

Shares of ARLO stock opened at $16.73 on Thursday. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.70. The stock has a market cap of $1.74 billion, a PE ratio of -76.05 and a beta of 2.01. The business has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $11.96.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 21.67% and a negative net margin of 4.29%. The company had revenue of $119.07 million during the quarter, compared to analysts’ expectations of $118.35 million. During the same period last year, the business earned $0.09 earnings per share. Arlo Technologies’s quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arlo Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its stake in shares of Arlo Technologies by 5.0% in the 4th quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock valued at $555,000 after purchasing an additional 2,284 shares during the period. Amundi increased its holdings in Arlo Technologies by 163.1% in 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Arlo Technologies by 1,291.1% in the first quarter. GAMMA Investing LLC now owns 71,182 shares of the company’s stock worth $7,212,000 after acquiring an additional 66,065 shares during the period. Deutsche Bank AG boosted its stake in shares of Arlo Technologies by 47.9% during the 4th quarter. Deutsche Bank AG now owns 83,197 shares of the company’s stock worth $931,000 after acquiring an additional 26,957 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Arlo Technologies during the 4th quarter worth about $121,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Monday, June 9th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Finally, Craig Hallum raised their target price on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating 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.