Arlo Technologies (NYSE:ARLO) General Counsel Brian Busse Sells 31,407 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 31,407 shares of Arlo Technologies stock in a transaction on Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $385,992.03. Following the completion of the sale, the general counsel owned 552,850 shares in the company, valued at approximately $6,794,526.50. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Busse also recently made the following trade(s):

• On Wednesday, February 4th, Brian Busse sold 15,922 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total transaction of $201,413.30.
• On Friday, January 30th, Brian Busse sold 8,245 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total value of $105,618.45.
• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total value of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The stock was sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Stock Performance

Shares of NYSE ARLO opened at $12.41 on Friday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66. The company has a 50 day simple moving average of $13.69 and a two-hundred day simple moving average of $15.77.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $139.53 million for the quarter, compared to the consensus estimate of $138.69 million. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. On average, analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arlo Technologies

Several large investors have recently added to or reduced their stakes in ARLO. Amalgamated Bank lifted its stake in shares of Arlo Technologies by 2.4% in the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company’s stock valued at $496,000 after purchasing an additional 692 shares during the last quarter. Arizona State Retirement System lifted its position in Arlo Technologies by 2.3% in the third quarter. Arizona State Retirement System now owns 30,597 shares of the company’s stock worth $519,000 after buying an additional 702 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Arlo Technologies by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after buying an additional 747 shares during the last quarter. Quarry LP boosted its stake in Arlo Technologies by 42.0% during the third quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after buying an additional 783 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Arlo Technologies by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after acquiring an additional 800 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ARLO shares. Wall Street Zen upgraded shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Arlo Technologies in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a report on Monday, December 29th. Finally, Zacks Research downgraded Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Arlo Technologies News Roundup

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.