Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells 200,000 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 200,000 shares of Arlo Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $11.04, for a total transaction of $2,208,000.00. Following the transaction, the chief executive officer now directly owns 2,486,678 shares in the company, valued at $27,452,925.12. The trade was a 7.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $3,118,500.81.
• On Tuesday, March 4th, Matthew Blake Mcrae sold 26,435 shares of Arlo Technologies stock. The stock was 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

Shares of ARLO opened at $10.94 on Tuesday. Arlo Technologies, Inc. has a twelve month low of $9.92 and a twelve month high of $17.64. The firm’s 50 day moving average price is $11.67 and its two-hundred day moving average price is $11.66. The firm has a market cap of $1.12 billion, a P/E ratio of -43.74 and a beta of 1.66.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARLO. Barclays PLC raised its holdings in shares of Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company’s stock valued at $2,244,000 after purchasing an additional 129,889 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Arlo Technologies by 5.0% in the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock valued at $555,000 after purchasing an additional 2,284 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Arlo Technologies by 26.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock valued at $12,463,000 after purchasing an additional 216,870 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Arlo Technologies by 18.0% in the third quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company’s stock valued at $8,674,000 after purchasing an additional 109,200 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Arlo Technologies in the third quarter valued at approximately $1,309,000. Institutional investors own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ARLO shares. BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Craig Hallum lifted their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Roth Capital set a $22.00 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.