Matthew Blake Mcrae Sells 26,435 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 26,435 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total transaction of $304,002.50. Following the sale, the chief executive officer now directly owns 3,205,132 shares of the company’s stock, valued at approximately $36,859,018. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, February 5th, Matthew Blake Mcrae sold 59,316 shares of Arlo Technologies stock. The shares were 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 shares were sold at an average price of $11.66, for a total transaction of $546,457.56.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $11.84 on Friday. The company has a market cap of $1.21 billion, a PE ratio of -47.34 and a beta of 1.66. Arlo Technologies, Inc. has a 52 week low of $9.92 and a 52 week high of $17.64. The firm has a 50 day simple moving average of $11.67 and a 200 day simple moving average of $11.68.

Analysts Set New Price Targets

Several research firms recently commented on ARLO. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum upped their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Institutional Investors Weigh In On Arlo Technologies

Hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Arlo Technologies by 104.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after acquiring an additional 1,191 shares in the last quarter. Quest Partners LLC increased its stake in Arlo Technologies by 283.0% in the 3rd quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock valued at $31,000 after buying an additional 1,882 shares during the period. KBC Group NV increased its stake in Arlo Technologies by 106.8% in the 4th quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the period. Ieq Capital LLC acquired a new position in Arlo Technologies in the 4th quarter valued at approximately $121,000. Finally, Hennessy Advisors Inc. increased 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 valued at $124,000 after buying an additional 965 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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.