Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 316,644 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the sale, the chief executive officer now owns 3,160,988 shares of the company’s stock, valued at approximately $36,477,801.52. This trade represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arlo Technologies Price Performance

NYSE:ARLO opened at $12.77 on Wednesday. Arlo Technologies, Inc. has a 1-year low of $8.33 and a 1-year high of $17.64. The company has a 50-day moving average of $11.44 and a 200 day moving average of $12.61. The firm has a market cap of $1.28 billion, a PE ratio of -51.08 and a beta of 1.79.

Analyst Upgrades and Downgrades

ARLO has been the subject of a number of research reports. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum lowered their price objective on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

Institutional Trading of Arlo Technologies

Hedge funds have recently modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of Arlo Technologies during the second quarter valued at about $33,000. Quest Partners LLC lifted its position in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after buying an additional 840 shares during the last quarter. CWM LLC lifted its position in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Arlo Technologies during the second quarter valued at about $62,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.