Insider Selling: Arlo Technologies (NYSE:ARLO) CEO Sells $223,892.30 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 18,085 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $12.38, for a total value of $223,892.30. Following the completion of the transaction, the chief executive officer directly owned 1,106,614 shares in the company, valued at $13,699,881.32. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, February 6th, Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock. The shares were sold at an average price of $12.29, for a total transaction of $1,171,556.54.
• On Wednesday, February 4th, Matthew Blake Mcrae sold 58,604 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total transaction of $741,340.60.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total transaction of $454,524.42.
• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total transaction of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The stock was sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $12.41 on Monday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $19.94. The firm has a fifty day moving average price of $13.69 and a 200-day moving average price of $15.76.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The company had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $138.69 million. During the same period last year, the firm earned $0.11 EPS. Arlo Technologies’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies, Inc. will post -0.29 EPS for the current year.

Trending Headlines about Arlo Technologies

Here are the key news stories impacting Arlo Technologies this week:

• Negative Sentiment: CEO Matthew Blake Mcrae sold a total of 172,015 shares across three transactions (Feb 4, 5 and 6) at average prices between $12.29–$12.65, raising about $2.14M and in one filing showing an 8.61% reduction in his position. These are sizable, recent insider sales that investors often view as negative signal for insider conviction. SEC Form 4 — Mcrae
• Negative Sentiment: General Counsel Brian Busse sold 47,329 shares across two trades (Feb 4 and 6) at ~ $12.29–$12.65, generating roughly $587K and reducing his stake by several percent. Additional insider selling from senior legal leadership adds to the negative optics. SEC Form 4 — Busse

Analysts Set New Price Targets

ARLO has been the subject of a number of recent research reports. BWS Financial reiterated a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a research note on Tuesday, November 11th. Zacks Research downgraded shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Arlo Technologies by 778.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,884,616 shares of the company’s stock worth $31,944,000 after acquiring an additional 1,670,156 shares during the last quarter. Wasatch Advisors LP lifted its stake in Arlo Technologies by 30.1% in the 2nd quarter. Wasatch Advisors LP now owns 4,678,880 shares of the company’s stock worth $79,354,000 after purchasing an additional 1,082,443 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Arlo Technologies by 69.1% during the 3rd quarter. Marshall Wace LLP now owns 2,554,457 shares of the company’s stock valued at $43,298,000 after purchasing an additional 1,043,854 shares during the last quarter. Divisadero Street Capital Management LP grew its position in shares of Arlo Technologies by 778.6% during the second quarter. Divisadero Street Capital Management LP now owns 1,150,943 shares of the company’s stock valued at $19,520,000 after purchasing an additional 1,019,945 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arlo Technologies by 115.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,552,652 shares of the company’s stock worth $15,325,000 after purchasing an additional 830,770 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Company Profile

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.