Matthew Blake Mcrae Sells 95,326 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $1,171,556.54. Following the sale, the chief executive officer directly owned 1,011,288 shares of the company’s stock, valued at $12,428,729.52. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, February 5th, Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock. The stock was sold at an average price of $12.38, for a total value of $223,892.30.
• On Wednesday, February 4th, Matthew Blake Mcrae sold 58,604 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total value of $741,340.60.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The stock was sold at an average price of $12.81, for a total value of $454,524.42.
• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total value of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The shares were sold at an average price of $14.28, for a total value of $3,673,415.76.

Arlo Technologies Price Performance

ARLO stock opened at $12.41 on Friday. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $19.94. The business has a 50-day moving average price of $13.69 and a 200 day moving average price of $15.77. The company has a market capitalization of $1.32 billion, a P/E ratio of 413.80 and a beta of 1.66.

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

Institutional Trading of Arlo Technologies

Institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Arlo Technologies by 86.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock valued at $28,000 after purchasing an additional 747 shares in the last quarter. Quarry LP grew its holdings in shares of Arlo Technologies by 42.0% during the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after buying an additional 783 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Arlo Technologies by 161.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock valued at $55,000 after acquiring an additional 1,988 shares during the period. Strs Ohio purchased a new position in Arlo Technologies in the 1st quarter worth $66,000. Finally, Quadrant Capital Group LLC purchased a new position in Arlo Technologies in the 3rd quarter worth $86,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Arlo Technologies

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

Wall Street Analyst Weigh In

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

Arlo Technologies Company Profile

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.