Matthew Blake Mcrae Sells 188,930 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 188,930 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $16.71, for a total value of $3,157,020.30. Following the completion of the transaction, the chief executive officer now directly owns 2,101,563 shares in the company, valued at $35,117,117.73. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 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 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 value of $251,509.50.

Arlo Technologies Stock Performance

Arlo Technologies stock traded down $0.21 during trading on Friday, reaching $17.16. The company had a trading volume of 678,089 shares, compared to its average volume of 951,355. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.70. The firm's 50-day simple moving average is $13.61 and its 200 day simple moving average is $11.99. The firm has a market capitalization of $1.78 billion, a PE ratio of -77.85 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO - Get Free Report) last issued its 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. The business had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. Arlo Technologies had a negative return on equity of 21.67% and a negative net margin of 4.29%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. Analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARLO. Vanguard Group Inc. lifted its position in Arlo Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 9,953,767 shares of the company's stock valued at $98,244,000 after buying an additional 132,350 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Arlo Technologies by 7.0% in the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company's stock worth $64,147,000 after acquiring an additional 375,903 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Arlo Technologies by 21.1% in the 4th quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company's stock worth $50,773,000 after acquiring an additional 790,549 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arlo Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,219,076 shares of the company's stock worth $24,838,000 after purchasing an additional 26,803 shares during the period. Finally, Northern Trust Corp increased its holdings in Arlo Technologies by 11.7% in the 4th quarter. Northern Trust Corp now owns 1,711,116 shares of the company's stock valued at $19,147,000 after purchasing an additional 179,288 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company's stock.

Analysts Set New Price Targets

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

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.