Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 25,380 Shares

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 stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $16.56, for a total value of $420,292.80. Following the completion of the transaction, the chief executive officer directly owned 1,461,705 shares in the company, valued at $24,205,834.80. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $1,951,404.84.
• On Wednesday, June 25th, Matthew Blake Mcrae sold 243,302 shares of Arlo Technologies stock. The stock was sold at an average price of $16.87, for a total transaction of $4,104,504.74.
• 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 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.

Arlo Technologies Stock Down 2.7%

Shares of Arlo Technologies stock traded down $0.43 on Friday, hitting $15.77. 1,492,069 shares of the company's stock traded hands, compared to its average volume of 1,071,487. The stock has a market cap of $1.64 billion, a P/E ratio of -71.68 and a beta of 1.85. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.98. The firm's 50-day moving average is $16.26 and its 200 day moving average is $12.84.

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

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Monday, June 9th.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently modified their holdings of ARLO. Teacher Retirement System of Texas acquired a new position in Arlo Technologies during the 4th quarter valued at about $214,000. American Century Companies Inc. boosted its stake in Arlo Technologies by 12.7% during the 4th quarter. American Century Companies Inc. now owns 59,174 shares of the company's stock valued at $662,000 after purchasing an additional 6,675 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Arlo Technologies during the 4th quarter valued at about $431,000. LPL Financial LLC boosted its stake in Arlo Technologies by 122.6% during the 4th quarter. LPL Financial LLC now owns 50,234 shares of the company's stock valued at $562,000 after purchasing an additional 27,665 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Arlo Technologies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,821,417 shares of the company's stock valued at $109,902,000 after purchasing an additional 166,823 shares during the period. Institutional investors own 83.18% of the company's stock.

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.