Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $304,002.50 in Stock

Arlo Technologies, Inc. (NYSE:ARLO - Get Free Report) CEO Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $304,002.50. Following the completion of the sale, the chief executive officer now directly owns 3,205,132 shares in the company, valued at approximately $36,859,018. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 value 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 value of $546,457.56.

Arlo Technologies Trading Down 0.2 %

Shares of NYSE:ARLO traded down $0.03 during trading on Friday, reaching $11.82. 1,216,455 shares of the stock were exchanged, compared to its average volume of 891,101. Arlo Technologies, Inc. has a 12 month low of $9.92 and a 12 month high of $17.64. The firm has a market cap of $1.21 billion, a PE ratio of -47.29 and a beta of 1.66. The stock has a 50-day moving average price of $11.68 and a 200-day moving average price of $11.67.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARLO. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum boosted their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th.

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Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Arlo Technologies by 3.2% during the fourth quarter. Arizona State Retirement System now owns 29,003 shares of the company's stock worth $325,000 after acquiring an additional 907 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of 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 during the period. D.A. Davidson & CO. boosted its stake in shares of Arlo Technologies by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 91,914 shares of the company's stock valued at $1,029,000 after buying an additional 1,018 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Arlo Technologies by 9.7% in the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company's stock valued at $140,000 after buying an additional 1,103 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Arlo Technologies by 104.5% in the fourth 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. Institutional investors own 83.18% of the company's stock.

About Arlo Technologies

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.