Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $677,981.88 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 59,316 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $11.43, for a total transaction of $677,981.88. Following the completion of the transaction, the chief executive officer now owns 3,128,696 shares in the company, valued at approximately $35,760,995.28. This trade represents a 1.86 % decrease in their ownership of the stock. 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 Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56.
• On Monday, December 2nd, Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock. The shares were sold at an average price of $11.54, for a total transaction of $3,654,071.76.

Arlo Technologies Stock Performance

ARLO stock opened at $11.18 on Friday. The firm has a market cap of $1.12 billion, a P/E ratio of -44.72 and a beta of 1.77. The firm’s fifty day moving average is $11.86 and its 200 day moving average is $11.97. Arlo Technologies, Inc. has a 52 week low of $8.53 and a 52 week high of $17.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after acquiring an additional 1,191 shares during the period. Quest Partners LLC lifted its position in Arlo Technologies by 283.0% in the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after purchasing an additional 1,882 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock valued at $53,000 after purchasing an additional 1,160 shares during the period. KBC Group NV grew its holdings in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after purchasing an additional 3,185 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Arlo Technologies in the fourth quarter worth $121,000. 83.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARLO. BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum reduced their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

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.