Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $6,384,444.32 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 372,488 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $17.14, for a total transaction of $6,384,444.32. Following the sale, the chief executive officer now directly owns 2,290,493 shares in the company, valued at $39,259,050.02. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 stock was sold at an average price of $16.80, for a total transaction of $5,127,427.20.
• On Monday, June 23rd, Matthew Blake Mcrae sold 188,930 shares of Arlo Technologies stock. The stock was sold at an average price of $16.71, for a total transaction of $3,157,020.30.
• 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 Trading Up 3.9%

NYSE:ARLO opened at $17.42 on Friday. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.70. The company has a 50-day moving average of $13.61 and a 200-day moving average of $11.99. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -79.16 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data 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 net margin of 4.29% and a negative return on equity of 21.67%. The company had revenue of $119.07 million during the quarter, compared to analyst estimates of $118.35 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Arlo Technologies by 0.3% during the first quarter. Rhumbline Advisers now owns 270,199 shares of the company’s stock valued at $2,667,000 after buying an additional 861 shares in the last quarter. Arizona State Retirement System lifted its stake in Arlo Technologies by 3.2% during the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company’s stock valued at $325,000 after buying an additional 907 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company’s stock valued at $1,029,000 after buying an additional 1,018 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Arlo Technologies by 9.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after buying an additional 1,103 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in Arlo Technologies by 3.3% during the first quarter. OneDigital Investment Advisors LLC now owns 36,262 shares of the company’s stock valued at $358,000 after buying an additional 1,154 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARLO. Roth Capital set a $22.00 target price on shares of Arlo Technologies in a report on Friday, February 28th. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Monday, June 9th. Finally, Craig Hallum increased their price objective 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.