Matthew Blake Mcrae Sells 46,866 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the sale, the chief executive officer now owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $3,654,071.76.

Arlo Technologies Stock Performance

ARLO stock opened at $11.72 on Friday. The stock’s 50 day simple moving average is $11.88 and its 200 day simple moving average is $12.12. Arlo Technologies, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $17.64. The company has a market cap of $1.18 billion, a P/E ratio of -46.88 and a beta of 1.77.

Analyst Ratings Changes

ARLO has been the topic of several research analyst reports. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum cut their target price 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARLO. Squarepoint Ops LLC raised its stake in Arlo Technologies by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock worth $1,095,000 after buying an additional 7,143 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Arlo Technologies by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock worth $469,000 after purchasing an additional 2,912 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Arlo Technologies in the second quarter worth approximately $613,000. SG Americas Securities LLC purchased a new stake in shares of Arlo Technologies in the third quarter worth approximately $481,000. Finally, GAMMA Investing LLC raised its stake in shares of Arlo Technologies by 35.7% in the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after purchasing an additional 1,160 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Arlo Technologies Company Profile

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.