Matthew Blake Mcrae Sells 157,851 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 157,851 shares of Arlo Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $10.70, for a total value of $1,689,005.70. Following the transaction, the chief executive officer now owns 2,558,425 shares in the company, valued at approximately $27,375,147.50. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 10th, Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock. The shares were sold at an average price of $11.04, for a total value of $2,208,000.00.
• 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 value 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 stock was sold at an average price of $11.66, for a total transaction of $546,457.56.

Arlo Technologies Stock Performance

NYSE ARLO opened at $10.59 on Wednesday. The firm’s 50 day moving average price is $11.52 and its two-hundred day moving average price is $11.58. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -42.36 and a beta of 1.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Arlo Technologies during the 4th quarter worth about $4,050,000. California State Teachers Retirement System lifted its position in shares of Arlo Technologies by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 93,320 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,232 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Arlo Technologies by 28.6% during the fourth quarter. Mackenzie Financial Corp now owns 80,397 shares of the company’s stock worth $900,000 after purchasing an additional 17,892 shares during the period. AWM Investment Company Inc. grew its position in Arlo Technologies by 168.3% during the fourth quarter. AWM Investment Company Inc. now owns 334,166 shares of the company’s stock valued at $3,739,000 after purchasing an additional 209,596 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arlo Technologies by 47.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,355 shares of the company’s stock valued at $1,985,000 after buying an additional 56,799 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

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

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.