Insider Selling: Arlo Technologies (NYSE:ARLO) CEO Sells $741,340.60 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 58,604 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $12.65, for a total transaction of $741,340.60. Following the transaction, the chief executive officer directly owned 957,252 shares in the company, valued at approximately $12,109,237.80. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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 stock was sold at an average price of $12.29, for a total transaction of $1,171,556.54.
• On Thursday, February 5th, Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock. The shares were sold at an average price of $12.38, for a total transaction of $223,892.30.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The stock was 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 stock was 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 shares were sold at an average price of $14.28, for a total value of $3,673,415.76.

Arlo Technologies Stock Performance

ARLO stock opened at $12.41 on Monday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 413.80 and a beta of 1.66. The business’s 50 day moving average price is $13.69 and its two-hundred day moving average price is $15.76.

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

Analyst Upgrades and Downgrades

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

Arlo Technologies News Roundup

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

Hedge Funds Weigh In On Arlo Technologies

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its position in Arlo Technologies by 2.4% during the 2nd quarter. Amalgamated Bank now owns 29,265 shares of the company’s stock valued at $496,000 after purchasing an additional 692 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Arlo Technologies by 2.3% in the third quarter. Arizona State Retirement System now owns 30,597 shares of the company’s stock worth $519,000 after buying an additional 702 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Arlo Technologies by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,616 shares of the company’s stock worth $28,000 after buying an additional 747 shares in the last quarter. Quarry LP grew its holdings in shares of Arlo Technologies by 42.0% during the third quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after buying an additional 783 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Arlo Technologies by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after acquiring an additional 800 shares in the last quarter. 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.