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

Arlo Technologies logo with Computer and Technology background

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 372,488 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $17.14, for a total value of $6,384,444.32. Following the completion of the sale, the chief executive officer now directly owns 2,290,493 shares of the company's stock, valued at approximately $39,259,050.02. This trade represents a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were 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 stock was 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 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 during midday trading on Friday, hitting $17.16. 678,089 shares of the company traded hands, compared to its average volume of 951,355. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.70. The firm has a market cap of $1.78 billion, a P/E ratio of -77.85 and a beta of 2.01. The stock has a 50-day moving average price of $13.61 and a 200 day moving average price of $11.99.

Arlo Technologies (NYSE:ARLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (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 firm had revenue of $119.07 million during the quarter, compared to analyst estimates of $118.35 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business's revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of Arlo Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in shares of Arlo Technologies by 2.3% during the fourth quarter. Rhumbline Advisers now owns 269,338 shares of the company's stock valued at $3,014,000 after buying an additional 6,101 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Arlo Technologies by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 489,270 shares of the company's stock worth $5,475,000 after acquiring an additional 16,211 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Arlo Technologies by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company's stock valued at $555,000 after purchasing an additional 2,284 shares during the last quarter. Truist Financial Corp lifted its position in Arlo Technologies by 14.3% during the fourth quarter. Truist Financial Corp now owns 22,759 shares of the company's stock valued at $255,000 after purchasing an additional 2,841 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings 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 purchasing an additional 1,018 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARLO has been the topic of a number of research analyst reports. BWS Financial restated a "buy" rating and set 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 Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum upped their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th.

Check Out Our Latest Research Report on ARLO

Arlo Technologies Company Profile

(Get Free Report)

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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