Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 157,851 Shares

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $10.70, for a total transaction of $1,689,005.70. Following the sale, the chief executive officer now owns 2,558,425 shares in the company, valued at approximately $27,375,147.50. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 stock was sold at an average price of $11.04, for a total value of $2,208,000.00.
• On Thursday, March 6th, Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock. The shares were sold at an average price of $12.03, for a total value of $3,118,500.81.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The stock was 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 transaction of $677,981.88.
• On Wednesday, January 29th, Matthew Blake Mcrae sold 46,866 shares of Arlo Technologies stock. The stock was sold at an average price of $11.66, for a total transaction of $546,457.56.

Arlo Technologies Trading Down 1.8 %

NYSE ARLO traded down $0.19 on Friday, hitting $10.28. 838,506 shares of the company were exchanged, compared to its average volume of 910,149. The company has a market cap of $1.05 billion, a P/E ratio of -41.12 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. The firm has a 50 day moving average of $11.47 and a two-hundred day moving average of $11.56.

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Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARLO shares. BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum boosted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 price target on Arlo Technologies in a research report on Friday, February 28th.

Hedge Funds Weigh In On Arlo Technologies

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its position in Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company's stock worth $26,000 after purchasing an additional 1,191 shares during the last quarter. Quest Partners LLC increased its stake in shares of Arlo Technologies by 283.0% in 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 raised its position in shares of Arlo Technologies by 106.8% during the fourth quarter. KBC Group NV now owns 6,167 shares of the company's stock worth $69,000 after acquiring an additional 3,185 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Arlo Technologies during the fourth quarter valued at $121,000. Finally, Hennessy Advisors Inc. increased its position in Arlo Technologies by 9.6% in the fourth 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 period. 83.18% of the stock is currently 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.