Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 259,227 Shares

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 259,227 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $12.03, for a total value of $3,118,500.81. Following the completion of the transaction, the chief executive officer now directly owns 2,945,905 shares in the company, valued at $35,439,237.15. This trade represents a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 value of $304,002.50.
• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The shares were sold at an average price of $11.43, for a total value 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 Down 7.5 %

ARLO stock traded down $0.89 during trading on Monday, hitting $10.94. The company had a trading volume of 1,458,391 shares, compared to its average volume of 890,735. The firm has a 50-day moving average price of $11.67 and a 200-day moving average price of $11.66. The firm has a market cap of $1.12 billion, a PE ratio of -43.74 and a beta of 1.66. Arlo Technologies, Inc. has a 1-year low of $9.92 and a 1-year high of $17.64.

Institutional Investors Weigh In On Arlo Technologies

Several hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings in shares of Arlo Technologies by 28.6% in the fourth quarter. Mackenzie Financial Corp now owns 80,397 shares of the company's stock valued at $900,000 after acquiring an additional 17,892 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of Arlo Technologies by 168.3% during the 4th quarter. AWM Investment Company Inc. now owns 334,166 shares of the company's stock worth $3,739,000 after buying an additional 209,596 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Arlo Technologies by 47.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company's stock worth $1,985,000 after buying an additional 56,799 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Arlo Technologies by 38.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company's stock valued at $16,503,000 after buying an additional 409,489 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Arlo Technologies by 213.0% in the fourth quarter. Squarepoint Ops LLC now owns 178,672 shares of the company's stock valued at $1,999,000 after buying an additional 121,582 shares in the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ARLO. Craig Hallum boosted their target price on Arlo Technologies from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 28th. Roth Capital set a $22.00 price objective on Arlo Technologies in a research note on Friday, February 28th. Finally, BWS Financial reissued a "buy" rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th.

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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.

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