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 business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $16.71, for a total transaction of $3,157,020.30. Following the completion of the transaction, the chief executive officer now owns 2,101,563 shares of the company's stock, valued at $35,117,117.73. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $5,127,427.20.
• 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 Up 0.6%

Shares of ARLO traded up $0.11 during midday trading on Tuesday, reaching $16.77. The company had a trading volume of 1,506,143 shares, compared to its average volume of 900,650. Arlo Technologies, Inc. has a 1-year low of $7.84 and a 1-year high of $17.70. The firm has a 50 day simple moving average of $13.30 and a 200-day simple moving average of $11.93.

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. Arlo Technologies had a negative return on equity of 21.67% and a negative net margin of 4.29%. The business had revenue of $119.07 million during the quarter, compared to the consensus estimate of $118.35 million. During the same period last year, the company earned $0.09 EPS. The company's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of Arlo Technologies by 104.5% in the 4th 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 last quarter. Strs Ohio purchased a new position in shares of Arlo Technologies during the 1st quarter worth $66,000. GAMMA Investing LLC grew its holdings in shares of Arlo Technologies by 40.9% during the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company's stock worth $71,000 after purchasing an additional 2,095 shares during the period. Ieq Capital LLC purchased a new position in shares of Arlo Technologies during the 4th quarter worth $121,000. Finally, Balboa Wealth Partners purchased a new position in shares of Arlo Technologies during the 4th quarter worth $129,000. 83.18% of the stock is owned by institutional investors and hedge funds.

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.

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