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

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total transaction 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. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arlo Technologies Stock Up 8.1 %

NYSE ARLO opened at $12.77 on Wednesday. The company has a fifty day moving average of $11.44 and a two-hundred day moving average of $12.61. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -51.08 and a beta of 1.79. Arlo Technologies, Inc. has a 52 week low of $8.33 and a 52 week high of $17.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB boosted its stake in Arlo Technologies by 45.5% during the second quarter. Swedbank AB now owns 800,000 shares of the company’s stock worth $10,432,000 after buying an additional 250,000 shares during the period. Mutual of America Capital Management LLC boosted its stake in Arlo Technologies by 3,624.0% during the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after buying an additional 590,778 shares during the period. Engle Capital Management L.P. lifted its position in shares of Arlo Technologies by 25.6% during 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 during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Arlo Technologies during the second quarter worth $9,413,000. Finally, Renaissance Technologies LLC lifted its position in shares of Arlo Technologies by 12.2% during 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 during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARLO shares. Craig Hallum reduced their price objective on shares of 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 reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, November 8th.

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.