Matthew Blake Mcrae Sells 18,085 Shares of Arlo Technologies (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 18,085 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $12.38, for a total value of $223,892.30. Following the completion of the sale, the chief executive officer directly owned 1,106,614 shares of the company’s stock, valued at approximately $13,699,881.32. This trade represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 6th, Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock. The stock was sold at an average price of $12.29, for a total value of $1,171,556.54.
• On Wednesday, February 4th, Matthew Blake Mcrae sold 58,604 shares of Arlo Technologies stock. The shares were sold at an average price of $12.65, for a total value of $741,340.60.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total value of $454,524.42.
• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The stock was 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 stock was sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $12.41 on Friday. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $19.94. The firm has a 50-day moving average price of $13.69 and a two-hundred day moving average price of $15.77. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66.

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

Analyst Ratings Changes

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

Key Arlo Technologies News

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

Hedge Funds Weigh In On Arlo Technologies

Large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in Arlo Technologies by 28.8% in the 1st quarter. AQR Capital Management LLC now owns 406,688 shares of the company’s stock worth $4,014,000 after purchasing an additional 90,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arlo Technologies by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 171,986 shares of the company’s stock worth $1,698,000 after buying an additional 23,068 shares in the last quarter. Millennium Management LLC boosted its stake in Arlo Technologies by 116.1% during the first quarter. Millennium Management LLC now owns 455,692 shares of the company’s stock valued at $4,498,000 after buying an additional 244,783 shares during the period. 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 valued at $15,325,000 after buying an additional 830,770 shares during the period. Finally, Jane Street Group LLC grew its position in Arlo Technologies by 279.8% during the first quarter. Jane Street Group LLC now owns 292,302 shares of the company’s stock worth $2,885,000 after buying an additional 215,343 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors.

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.