Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $420,292.80 in Stock

Key Points

• Matthew Blake Mcrae, CEO of Arlo Technologies, sold 25,380 shares at an average price of $16.56, totaling approximately $420,292.80, reducing his ownership by 1.71% to 1,461,705 shares.
• Arlo Technologies' stock increased by 1.1% to $16.28 with a market cap of $1.69 billion and a twelve-month range between $7.84 and $17.98.
• BWS Financial maintains a "buy" rating for Arlo Technologies with a price target of $24.00 as analysts predict a challenging year with expected earnings per share of -0.29.

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 25,380 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $16.56, for a total value of $420,292.80. Following the completion of the sale, the chief executive officer directly owned 1,461,705 shares of the company's stock, valued at approximately $24,205,834.80. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was sold at an average price of $17.22, for a total value of $1,951,404.84.
• On Wednesday, June 25th, Matthew Blake Mcrae sold 243,302 shares of Arlo Technologies stock. The shares were sold at an average price of $16.87, for a total value of $4,104,504.74.
• 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 value of $3,157,020.30.
• 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 stock was sold at an average price of $10.37, for a total value of $954,029.63.

Arlo Technologies Stock Down 2.7%

Shares of NYSE:ARLO traded down $0.43 on Friday, reaching $15.77. The company had a trading volume of 1,492,069 shares, compared to its average volume of 1,071,487. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.98. The stock has a 50-day moving average price of $16.26 and a 200 day moving average price of $12.85. The stock has a market capitalization of $1.64 billion, a P/E ratio of -71.68 and a beta of 1.85.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The company 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%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, sell-side analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Monday, June 9th.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors have recently made changes to their positions in ARLO. Teacher Retirement System of Texas bought a new position in shares of Arlo Technologies in the fourth quarter worth about $214,000. American Century Companies Inc. increased its stake in shares of Arlo Technologies by 12.7% in the fourth quarter. American Century Companies Inc. now owns 59,174 shares of the company's stock worth $662,000 after purchasing an additional 6,675 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Arlo Technologies in the fourth quarter worth about $431,000. LPL Financial LLC increased its stake in shares of Arlo Technologies by 122.6% in the fourth quarter. LPL Financial LLC now owns 50,234 shares of the company's stock worth $562,000 after purchasing an additional 27,665 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Arlo Technologies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock worth $109,902,000 after purchasing an additional 166,823 shares during the period. 83.18% of the stock is currently owned by institutional investors.

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.