Arlo Technologies (NYSE:ARLO) CEO Sells $1,171,556.54 in Stock

by · The Markets Daily

Arlo Technologies, Inc. (NYSE:ARLO – Get Free Report) CEO Matthew Blake Mcrae sold 95,326 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $12.29, for a total transaction of $1,171,556.54. Following the transaction, the chief executive officer owned 1,011,288 shares in the company, valued at $12,428,729.52. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Thursday, February 5th, Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock. The shares were sold at an average price of $12.38, for a total transaction of $223,892.30.
  • On Wednesday, February 4th, Matthew Blake Mcrae sold 58,604 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total value of $741,340.60.
  • On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total value of $454,524.42.
  • On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total value of $1,233,318.41.
  • On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The stock was sold at an average price of $14.28, for a total value of $3,673,415.76.

Arlo Technologies Stock Up 3.2%

Shares of ARLO stock traded up $0.39 during trading on Friday, reaching $12.41. 1,512,499 shares of the company’s stock were exchanged, compared to its average volume of 1,254,114. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $19.94. The firm’s fifty day moving average price is $13.69 and its 200-day moving average price is $15.77. The stock has a market capitalization of $1.32 billion, a PE ratio of 413.80 and a beta of 1.66.

Arlo Technologies (NYSE:ARLO – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a net margin of 0.84% and a return on equity of 2.00%. The firm had revenue of $139.53 million during the quarter, compared to analysts’ expectations of $138.69 million. During the same period in the previous year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Arlo Technologies

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in Arlo Technologies by 28.8% during the 1st quarter. AQR Capital Management LLC now owns 406,688 shares of the company’s stock worth $4,014,000 after acquiring an additional 90,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arlo Technologies by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 171,986 shares of the company’s stock worth $1,698,000 after purchasing an additional 23,068 shares in the last quarter. Millennium Management LLC increased its position in shares of Arlo Technologies by 116.1% in the first quarter. Millennium Management LLC now owns 455,692 shares of the company’s stock worth $4,498,000 after purchasing an additional 244,783 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Arlo Technologies by 115.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock worth $15,325,000 after purchasing an additional 830,770 shares during the period. Finally, Jane Street Group LLC raised its stake in Arlo Technologies by 279.8% in the first quarter. Jane Street Group LLC now owns 292,302 shares of the company’s stock valued at $2,885,000 after purchasing an additional 215,343 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Arlo Technologies in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Zacks Research downgraded Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Arlo Technologies currently has an average rating of “Moderate Buy” and an average price target of $23.00.

View Our Latest Stock Report on ARLO

About Arlo Technologies

(Get Free Report)

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.

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