Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $5,127,427.20 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 305,204 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $16.80, for a total value of $5,127,427.20. Following the transaction, the chief executive officer now owns 1,796,359 shares in the company, valued at approximately $30,178,831.20. This trade represents a 14.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, June 23rd, Matthew Blake Mcrae sold 188,930 shares of Arlo Technologies stock. The shares were sold at an average price of $16.71, for a total value of $3,157,020.30.
• On Friday, June 20th, Matthew Blake Mcrae sold 372,488 shares of Arlo Technologies stock. The shares were 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 stock was sold at an average price of $10.37, for a total transaction 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 transaction of $251,509.50.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $17.42 on Friday. The stock has a market cap of $1.81 billion, a P/E ratio of -79.16 and a beta of 2.01. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.70. The stock has a fifty day moving average price of $13.61 and a 200 day moving average price of $11.99.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARLO. BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Monday, June 9th. Craig Hallum raised their price objective on shares of Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in Arlo Technologies by 104.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after purchasing an additional 1,191 shares during the period. Strs Ohio bought a new position in shares of Arlo Technologies during the first quarter valued at $66,000. GAMMA Investing LLC lifted its holdings in shares of Arlo Technologies by 40.9% during the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock valued at $71,000 after acquiring an additional 2,095 shares during the period. Magnetar Financial LLC bought a new position in shares of Arlo Technologies during the first quarter valued at $117,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Arlo Technologies during the first quarter valued at $119,000. 83.18% of the stock is owned by institutional investors.

About Arlo Technologies

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.