Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 305,204 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 305,204 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $16.80, for a total transaction of $5,127,427.20. Following the sale, the chief executive officer now directly owns 1,796,359 shares in the company, valued at $30,178,831.20. This trade represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 up $0.11 during midday trading on Tuesday, reaching $16.77. The company's stock had a trading volume of 1,506,143 shares, compared to its average volume of 900,650. The business's 50-day simple moving average is $13.30 and its 200-day simple moving average is $11.93. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.70.

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 for the quarter, compared to analysts' expectations of $118.35 million. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Arlo Technologies by 104.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after acquiring an additional 1,191 shares during the period. Strs Ohio acquired a new stake in shares of Arlo Technologies during the first quarter worth $66,000. GAMMA Investing LLC increased its stake in Arlo Technologies by 40.9% in the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company's stock valued at $71,000 after buying an additional 2,095 shares during the last quarter. Ieq Capital LLC acquired a new stake in Arlo Technologies in the 4th quarter valued at $121,000. Finally, Balboa Wealth Partners acquired a new stake in Arlo Technologies in the 4th quarter valued at $129,000. 83.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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