Matthew Blake Mcrae Sells 200,000 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $11.04, for a total value of $2,208,000.00. Following the sale, the chief executive officer now owns 2,486,678 shares of the company’s stock, valued at approximately $27,452,925.12. This trade represents a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, March 6th, Matthew Blake Mcrae sold 259,227 shares of Arlo Technologies stock. The stock was sold at an average price of $12.03, for a total transaction 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 value of $546,457.56.

Arlo Technologies Trading Down 0.6 %

Shares of NYSE:ARLO opened at $10.91 on Wednesday. The company has a market capitalization of $1.12 billion, a PE ratio of -43.62 and a beta of 1.66. Arlo Technologies, Inc. has a 12-month low of $9.92 and a 12-month high of $17.64. The business’s fifty day simple moving average is $11.66 and its 200-day simple moving average is $11.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th. Craig Hallum lifted their price objective on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Roth Capital set a $22.00 target price on shares of Arlo Technologies in a report on Friday, February 28th.

Institutional Trading of Arlo Technologies

Several hedge funds have recently modified their holdings of ARLO. Smartleaf Asset Management LLC increased its position in shares of Arlo Technologies by 104.5% during the fourth 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 in the last quarter. Quest Partners LLC boosted its position 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 worth $31,000 after purchasing an additional 1,882 shares in the last quarter. KBC Group NV grew its stake in Arlo Technologies by 106.8% during the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock worth $69,000 after buying an additional 3,185 shares during the last quarter. Ieq Capital LLC acquired a new position in Arlo Technologies during the 4th quarter valued at about $121,000. Finally, Hennessy Advisors Inc. boosted its holdings 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 acquiring an additional 965 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

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.