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

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $10.70, for a total value of $1,689,005.70. Following the completion of the transaction, the chief executive officer now owns 2,558,425 shares of the company’s stock, valued at approximately $27,375,147.50. This represents a 5.81 % decrease in their position. The transaction 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 shares were sold at an average price of $11.50, for a total transaction of $304,002.50.
• 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 transaction 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 transaction of $546,457.56.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $10.92 on Tuesday. The firm’s 50 day simple moving average is $11.54 and its 200-day simple moving average is $11.58. Arlo Technologies, Inc. has a one year low of $9.92 and a one year high of $17.64. The firm has a market cap of $1.12 billion, a PE ratio of -43.69 and a beta of 1.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Advisers LLC lifted its holdings in shares of Arlo Technologies by 116.9% in the 4th quarter. Emerald Advisers LLC now owns 1,666,482 shares of the company’s stock worth $18,648,000 after buying an additional 898,167 shares during the period. Wasatch Advisors LP raised its holdings in shares of Arlo Technologies by 21.1% in the fourth quarter. Wasatch Advisors LP now owns 4,537,333 shares of the company’s stock valued at $50,773,000 after acquiring an additional 790,549 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Arlo Technologies in the fourth quarter worth about $4,586,000. Westwood Holdings Group Inc. grew its holdings in Arlo Technologies by 38.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,474,778 shares of the company’s stock worth $16,503,000 after acquiring an additional 409,489 shares in the last quarter. Finally, Brandes Investment Partners LP increased its position in Arlo Technologies by 7.0% during the 4th quarter. Brandes Investment Partners LP now owns 5,732,547 shares of the company’s stock valued at $64,147,000 after purchasing an additional 375,903 shares during the period. Institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ARLO. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, February 28th. Finally, Craig Hallum increased their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.

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.