Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 243,302 Shares

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 243,302 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $16.87, for a total transaction of $4,104,504.74. Following the completion of the sale, the chief executive officer now owns 1,553,057 shares of the company's stock, valued at approximately $26,200,071.59. The trade was a 13.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, June 26th, Matthew Blake Mcrae sold 113,322 shares of Arlo Technologies stock. The shares were sold at an average price of $17.22, for a total value of $1,951,404.84.
• 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 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 transaction 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 transaction 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 transaction of $954,029.63.
• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The shares were sold at an average price of $9.90, for a total transaction of $251,509.50.

Arlo Technologies Price Performance

ARLO stock traded down $0.17 during trading on Friday, reaching $17.20. The company had a trading volume of 1,880,004 shares, compared to its average volume of 1,325,828. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.70. The business has a 50 day moving average of $13.77 and a 200 day moving average of $12.01.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $119.07 million during the quarter, compared to analyst estimates of $118.35 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Arlo Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its stake in shares of Arlo Technologies by 5.0% during the fourth 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 in the last quarter. Amundi increased its position in Arlo Technologies by 163.1% during the 4th 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 increased its holdings in shares of Arlo Technologies by 1,291.1% during the first quarter. GAMMA Investing LLC now owns 71,182 shares of the company's stock valued at $7,212,000 after acquiring an additional 66,065 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Arlo Technologies by 21.5% during the first quarter. SG Americas Securities LLC now owns 33,130 shares of the company's stock valued at $327,000 after acquiring an additional 5,862 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Arlo Technologies by 47.9% during the fourth quarter. Deutsche Bank AG now owns 83,197 shares of the company's stock valued at $931,000 after acquiring an additional 26,957 shares in the last quarter. Institutional investors own 83.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARLO. BWS Financial reaffirmed a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Monday, June 9th. Craig Hallum upped their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on Arlo Technologies in a report on Friday, February 28th.

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.