Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 113,322 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 113,322 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $17.22, for a total value of $1,951,404.84. Following the transaction, the chief executive officer now owns 1,439,735 shares of the company's stock, valued at $24,792,236.70. This represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 transaction 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 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 value 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 value of $251,509.50.

Arlo Technologies Stock Down 1.0%

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

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $0.09 EPS. Arlo Technologies's quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of Arlo Technologies

Large investors have recently made changes to their positions in the stock. Emerald Advisers LLC increased its stake in Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company's stock worth $18,648,000 after buying an additional 898,167 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Arlo Technologies by 115.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company's stock valued at $15,325,000 after buying an additional 830,770 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Arlo Technologies by 21.1% during the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock valued at $50,773,000 after buying an additional 790,549 shares in the last quarter. Nuveen LLC bought a new stake in Arlo Technologies during the 1st quarter valued at about $6,298,000. Finally, Hosking Partners LLP bought a new stake in shares of Arlo Technologies during the first quarter valued at approximately $6,118,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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