Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae Sells 46,866 Shares

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 46,866 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $11.66, for a total transaction of $546,457.56. Following the transaction, the chief executive officer now owns 3,161,472 shares of the company’s stock, valued at approximately $36,862,763.52. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, December 2nd, Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock. The stock was sold at an average price of $11.54, for a total transaction of $3,654,071.76.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.71 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -46.82 and a beta of 1.77. Arlo Technologies, Inc. has a twelve month low of $8.38 and a twelve month high of $17.64. The firm’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $12.16.

Analysts Set New Price Targets

A number of analysts recently commented on ARLO shares. BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum decreased their target price 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.

Institutional Investors Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. boosted its stake in Arlo Technologies by 9.6% in the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock worth $124,000 after purchasing an additional 965 shares during the period. GAMMA Investing LLC boosted its position in shares of Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares during the period. Quest Partners LLC boosted its position in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after buying an additional 1,882 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arlo Technologies by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,978 shares of the company’s stock worth $302,000 after buying an additional 2,253 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Arlo Technologies by 13.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,181 shares of the company’s stock valued at $257,000 after buying an additional 2,520 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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.