Matthew Blake Mcrae Sells 372,488 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 372,488 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $17.14, for a total transaction of $6,384,444.32. Following the transaction, the chief executive officer now owns 2,290,493 shares of the company's stock, valued at $39,259,050.02. This represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 stock was 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 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 Stock Up 0.6%

NYSE:ARLO traded up $0.11 during mid-day trading on Tuesday, hitting $16.77. The stock had a trading volume of 1,506,143 shares, compared to its average volume of 900,650. The stock has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $11.93. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.70.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its quarterly earnings data 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. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The company had revenue of $119.07 million for the quarter, compared to analysts' expectations of $118.35 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on ARLO shares. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Monday, June 9th. Roth Capital set a $22.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum increased their price target 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.

Institutional Trading of Arlo Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its holdings in shares of Arlo Technologies by 40.4% in the 1st quarter. Voya Investment Management LLC now owns 113,716 shares of the company's stock valued at $1,122,000 after acquiring an additional 32,733 shares during the period. Rhumbline Advisers increased its stake in Arlo Technologies by 0.3% in the 1st quarter. Rhumbline Advisers now owns 270,199 shares of the company's stock valued at $2,667,000 after buying an additional 861 shares during the period. Strs Ohio acquired a new position in shares of Arlo Technologies during the 1st quarter worth $66,000. Jane Street Group LLC grew its stake in shares of Arlo Technologies by 279.8% during the 1st quarter. Jane Street Group LLC now owns 292,302 shares of the company's stock worth $2,885,000 after purchasing an additional 215,343 shares during the period. Finally, S Squared Technology LLC acquired a new position in shares of Arlo Technologies during the 1st quarter worth $4,590,000. Institutional investors and hedge funds own 83.18% of the company's stock.

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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