Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 259,227 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 259,227 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the completion of the sale, the chief executive officer now owns 2,945,905 shares in the company, valued at $35,439,237.15. This represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 10th, Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock. The shares were sold at an average price of $11.04, for a total transaction of $2,208,000.00.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The shares were sold at an average price of $11.50, for a total transaction of $304,002.50.
• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The stock was sold at an average price of $11.43, for a total transaction of $677,981.88.
• On Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The shares were sold at an average price of $11.66, for a total value of $546,457.56.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock traded down $0.89 during trading hours on Monday, reaching $10.94. The company’s stock had a trading volume of 1,458,391 shares, compared to its average volume of 890,735. The company’s 50 day simple moving average is $11.67 and its 200 day simple moving average is $11.66. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64. The stock has a market cap of $1.12 billion, a P/E ratio of -43.74 and a beta of 1.66.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Capital set a $22.00 target price on Arlo Technologies in a report on Friday, February 28th. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, February 28th. Finally, Craig Hallum increased their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th.

Institutional Trading of Arlo Technologies

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake 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 buying an additional 1,191 shares during the period. Quest Partners LLC increased its stake in Arlo Technologies by 283.0% during the 3rd 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 period. KBC Group NV grew its stake in shares of Arlo Technologies by 106.8% in the 4th 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. Ieq Capital LLC acquired a new position in shares of Arlo Technologies in the 4th quarter worth approximately $121,000. Finally, Hennessy Advisors Inc. grew its stake in shares of Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

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.