Arlo Technologies (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 18,085 Shares

by · The Markets Daily

Arlo Technologies, Inc. (NYSE:ARLO – Get Free Report) CEO Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $12.38, for a total value of $223,892.30. Following the sale, the chief executive officer directly owned 1,106,614 shares in the company, valued at $13,699,881.32. The trade was a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Friday, February 6th, Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock. The shares were sold at an average price of $12.29, for a total value of $1,171,556.54.
  • 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 stock was sold at an average price of $12.81, for a total transaction 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 transaction of $1,233,318.41.
  • On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The shares were sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded up $0.39 during midday 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. The company’s 50 day simple moving average is $13.69 and its two-hundred day simple moving average is $15.77. Arlo Technologies, Inc. has a 12 month low of $7.84 and a 12 month high of $19.94. The firm 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 posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $139.53 million during the quarter, compared to analyst estimates of $138.69 million. Arlo Technologies had a net margin of 0.84% and a return on equity of 2.00%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, research analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Arlo Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Arlo Technologies by 778.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company’s stock worth $31,944,000 after purchasing an additional 1,670,156 shares during the last quarter. Wasatch Advisors LP lifted its position in Arlo Technologies by 30.1% during the 2nd quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock worth $79,354,000 after buying an additional 1,082,443 shares in the last quarter. Marshall Wace LLP grew its holdings in Arlo Technologies by 69.1% during the 3rd quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock worth $43,298,000 after acquiring an additional 1,043,854 shares during the last quarter. Divisadero Street Capital Management LP grew its holdings in Arlo Technologies by 778.6% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock worth $19,520,000 after acquiring an additional 1,019,945 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Arlo Technologies by 115.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock valued at $15,325,000 after acquiring an additional 830,770 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

ARLO has been the subject of a number of recent research reports. Zacks Research cut Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Check Out Our Latest Report on Arlo Technologies

Arlo Technologies Company Profile

(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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