Matthew Blake Mcrae Sells 35,482 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $12.81, for a total transaction of $454,524.42. Following the transaction, the chief executive officer directly owned 982,681 shares of the company’s stock, valued at approximately $12,588,143.61. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The shares were sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Stock Up 0.2%

ARLO stock opened at $12.75 on Thursday. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $19.94. The firm has a market cap of $1.35 billion, a P/E ratio of 425.14 and a beta of 1.66. The company’s 50-day simple moving average is $13.77 and its 200-day simple moving average is $15.82.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Zacks Research cut Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Arlo Technologies in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Institutional Investors Weigh In On Arlo Technologies

A number of hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in Arlo Technologies by 778.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company’s stock valued at $31,944,000 after purchasing an additional 1,670,156 shares during the period. Wasatch Advisors LP increased its position in shares of Arlo Technologies by 30.1% during the 2nd quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock worth $79,354,000 after purchasing an additional 1,082,443 shares during the last quarter. Marshall Wace LLP raised its holdings in Arlo Technologies by 69.1% in the 3rd quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock valued at $43,298,000 after buying an additional 1,043,854 shares during the period. Divisadero Street Capital Management LP lifted its position in Arlo Technologies by 778.6% in the second quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock valued at $19,520,000 after buying an additional 1,019,945 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Arlo Technologies by 115.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock worth $15,325,000 after buying an additional 830,770 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Company Profile

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.