Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 59,316 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 59,316 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.43, for a total transaction of $677,981.88. Following the transaction, the chief executive officer now directly owns 3,128,696 shares of the company’s stock, valued at $35,760,995.28. This represents a 1.86 % decrease in their ownership of the stock. The transaction 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 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 value of $546,457.56.
• 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 Price Performance

Arlo Technologies stock opened at $11.18 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of -44.72 and a beta of 1.77. Arlo Technologies, Inc. has a one year low of $8.53 and a one year high of $17.64. The business has a fifty day moving average price of $11.86 and a 200-day moving average price of $11.97.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARLO. Craig Hallum cut their price target on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Arlo Technologies in the fourth quarter worth about $4,586,000. Swedbank AB increased its holdings in Arlo Technologies by 37.5% during the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after acquiring an additional 300,000 shares during the period. Needham Investment Management LLC lifted its stake in Arlo Technologies by 29.1% in the 3rd quarter. Needham Investment Management LLC now owns 1,265,000 shares of the company’s stock worth $15,319,000 after purchasing an additional 285,000 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Arlo Technologies by 7.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock valued at $12,463,000 after purchasing an additional 216,870 shares in the last quarter. 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.