Insider Selling: Arlo Technologies (NYSE:ARLO) General Counsel Sells $385,992.03 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 31,407 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $12.29, for a total transaction of $385,992.03. Following the sale, the general counsel directly owned 552,850 shares of the company’s stock, valued at $6,794,526.50. This trade represents a 5.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Brian Busse also recently made the following trade(s):

• On Wednesday, February 4th, Brian Busse sold 15,922 shares of Arlo Technologies stock. The stock was sold at an average price of $12.65, for a total value of $201,413.30.
• On Friday, January 30th, Brian Busse sold 8,245 shares of Arlo Technologies stock. The stock was sold at an average price of $12.81, for a total value of $105,618.45.
• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total transaction of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The stock was sold at an average price of $14.37, for a total transaction of $2,148,616.77.

Arlo Technologies Price Performance

ARLO stock opened at $12.41 on Monday. The company has a market cap of $1.32 billion, a P/E ratio of 413.80 and a beta of 1.66. The stock’s fifty day moving average price is $13.69 and its 200-day moving average price is $15.76. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $19.94.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $139.53 million during the quarter, compared to the consensus estimate of $138.69 million. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. As a group, analysts expect that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

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

More Arlo Technologies News

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARLO. Smartleaf Asset Management LLC grew its position in Arlo Technologies by 86.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock valued at $28,000 after acquiring an additional 747 shares during the last quarter. Quarry LP lifted its stake in Arlo Technologies by 42.0% in the third quarter. Quarry LP now owns 2,649 shares of the company’s stock worth $45,000 after acquiring an additional 783 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Arlo Technologies by 161.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after purchasing an additional 1,988 shares during the period. Strs Ohio purchased a new stake in Arlo Technologies during the first quarter worth $66,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Arlo Technologies in the 3rd quarter worth $86,000. Institutional investors own 83.18% of the company’s stock.

About Arlo Technologies

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.