Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 46,866 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 46,866 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total value of $546,457.56. Following the sale, the chief executive officer now 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 link.

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 value of $3,654,071.76.

Arlo Technologies Stock Performance

Arlo Technologies stock traded down $0.02 during mid-day trading on Thursday, hitting $11.71. The company’s stock had a trading volume of 411,621 shares, compared to its average volume of 773,948. The company has a 50 day moving average of $11.89 and a 200-day moving average of $12.16. Arlo Technologies, Inc. has a one year low of $8.38 and a one year high of $17.64. The stock has a market cap of $1.17 billion, a PE ratio of -46.82 and a beta of 1.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its stake in Arlo Technologies by 9.3% in the second quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock worth $1,095,000 after purchasing an additional 7,143 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Arlo Technologies by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock worth $469,000 after buying an additional 2,912 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Arlo Technologies during the second quarter valued at $613,000. SG Americas Securities LLC bought a new stake in shares of Arlo Technologies in the third quarter valued at about $481,000. Finally, GAMMA Investing LLC lifted its stake in Arlo Technologies by 35.7% in the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after acquiring an additional 1,160 shares during the period. 83.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ARLO. BWS Financial reaffirmed a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

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.