Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $546,457.56 in Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 46,866 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the sale, the chief executive officer now directly owns 3,161,472 shares in the company, valued at approximately $36,862,763.52. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $3,654,071.76.

Arlo Technologies Trading Down 3.4 %

Shares of Arlo Technologies stock traded down $0.40 during midday trading on Monday, reaching $11.32. The company had a trading volume of 397,041 shares, compared to its average volume of 742,899. The stock has a fifty day simple moving average of $11.88 and a 200 day simple moving average of $12.05. Arlo Technologies, Inc. has a 1-year low of $8.38 and a 1-year high of $17.64. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -45.34 and a beta of 1.77.

Analyst Ratings Changes

ARLO has been the topic of several analyst reports. BWS Financial reissued 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 shares of Arlo Technologies from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, November 8th.

Hedge Funds Weigh In On Arlo Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Hennessy Advisors Inc. raised its position in Arlo Technologies by 9.6% during the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock worth $124,000 after acquiring an additional 965 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Arlo Technologies by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock valued at $1,029,000 after purchasing an additional 1,018 shares in the last quarter. GAMMA Investing LLC raised its holdings in Arlo Technologies by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,406 shares of the company's stock valued at $53,000 after buying an additional 1,160 shares during the last quarter. Quest Partners LLC raised its stake 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 acquiring an additional 1,882 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Arlo Technologies by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company's stock worth $302,000 after purchasing an additional 2,253 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.