Arlo Technologies (NYSE:ARLO) General Counsel Sells $201,413.30 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) General Counsel Brian Busse sold 15,922 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $12.65, for a total transaction of $201,413.30. Following the completion of the sale, the general counsel owned 526,847 shares in the company, valued at $6,664,614.55. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, February 6th, Brian Busse sold 31,407 shares of Arlo Technologies stock. The stock was sold at an average price of $12.29, for a total transaction of $385,992.03.
• 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 transaction of $105,618.45.
• On Friday, January 9th, Brian Busse sold 18,841 shares of Arlo Technologies stock. The shares were sold at an average price of $13.69, for a total value of $257,933.29.
• On Friday, November 14th, Brian Busse sold 149,521 shares of Arlo Technologies stock. The shares were sold at an average price of $14.37, for a total value of $2,148,616.77.

Arlo Technologies Stock Up 3.2%

ARLO opened at $12.41 on Monday. The firm has a market cap of $1.32 billion, a PE ratio of 413.80 and a beta of 1.66. The business has a fifty day simple moving average of $13.69 and a 200-day simple moving average of $15.76. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94.

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

Analyst Ratings Changes

Several brokerages have commented on ARLO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arlo Technologies in a 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 reiterated a “buy” rating and set a $26.00 price objective on shares of Arlo Technologies in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake 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 buying an additional 747 shares during the period. Quarry LP grew its holdings in shares of Arlo Technologies by 42.0% during the 3rd quarter. Quarry LP now owns 2,649 shares of the company’s stock valued at $45,000 after acquiring an additional 783 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Arlo Technologies by 161.4% in the second quarter. First Horizon Advisors Inc. now owns 3,220 shares of the company’s stock worth $55,000 after acquiring an additional 1,988 shares during the last quarter. Strs Ohio purchased a new stake in shares of Arlo Technologies during the first quarter worth $66,000. Finally, Quadrant Capital Group LLC acquired a new stake in Arlo Technologies during the third quarter valued at $86,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Key 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

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.