Matthew Blake Mcrae Sells 316,644 Shares of Arlo Technologies, Inc. (NYSE:ARLO) Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the sale, the chief executive officer now owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. This represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $13.01 on Thursday. The stock’s fifty day simple moving average is $11.46 and its 200 day simple moving average is $12.62. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -52.02 and a beta of 1.79. Arlo Technologies, Inc. has a one year low of $8.33 and a one year high of $17.64.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARLO shares. Craig Hallum lowered their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. BWS Financial restated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Friday, November 8th.

Institutional Trading of Arlo Technologies

Institutional investors have recently bought and sold shares of the stock. Swedbank AB boosted its stake in Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock valued at $10,432,000 after buying an additional 250,000 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after purchasing an additional 590,778 shares in the last quarter. Engle Capital Management L.P. boosted its stake in Arlo Technologies by 25.6% in the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after purchasing an additional 230,000 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Arlo Technologies in the second quarter worth $9,413,000. Finally, Renaissance Technologies LLC boosted its stake in Arlo Technologies by 12.2% in the second quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock worth $18,444,000 after purchasing an additional 154,100 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Company Profile

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.