Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 305,204 Shares

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 305,204 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $16.80, for a total value of $5,127,427.20. Following the sale, the chief executive officer now directly owns 1,796,359 shares of the company's stock, valued at $30,178,831.20. This represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value 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 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 transaction of $954,029.63.
• On Tuesday, April 29th, Matthew Blake Mcrae sold 25,405 shares of Arlo Technologies stock. The stock was sold at an average price of $9.90, for a total transaction of $251,509.50.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.21 on Friday, reaching $17.16. The company's stock had a trading volume of 678,089 shares, compared to its average volume of 951,355. The company has a 50-day simple moving average of $13.61 and a 200 day simple moving average of $11.99. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.70. The company has a market cap of $1.78 billion, a P/E ratio of -77.85 and a beta of 2.01.

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

Institutional Trading of Arlo Technologies

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Arlo Technologies by 0.3% in the 1st quarter. Rhumbline Advisers now owns 270,199 shares of the company's stock worth $2,667,000 after buying an additional 861 shares during the period. Arizona State Retirement System lifted its stake in Arlo Technologies by 3.2% in the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock worth $325,000 after acquiring an additional 907 shares during the period. D.A. Davidson & CO. lifted its stake in Arlo Technologies by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock worth $1,029,000 after acquiring an additional 1,018 shares during the period. Hsbc Holdings PLC grew its holdings in Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock worth $140,000 after acquiring an additional 1,103 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in Arlo Technologies by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 36,262 shares of the company's stock valued at $358,000 after purchasing an additional 1,154 shares during the period. Hedge funds and other institutional investors own 83.18% of the company's stock.

Analyst Upgrades and Downgrades

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