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

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the transaction, the chief executive officer now directly owns 3,160,988 shares of the company’s stock, valued at $36,477,801.52. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Arlo Technologies Stock Performance

ARLO traded up $0.96 during midday trading on Tuesday, reaching $12.77. The company’s stock had a trading volume of 1,085,936 shares, compared to its average volume of 1,097,540. The company has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $12.61. Arlo Technologies, Inc. has a twelve month low of $8.33 and a twelve month high of $17.64.

Analysts Set New Price Targets

ARLO has been the topic of a number of research reports. BWS Financial restated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, November 8th. Craig Hallum reduced their price objective on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its position in Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after purchasing an additional 53,242 shares during the last quarter. State Street Corp lifted its holdings in shares of Arlo Technologies by 0.6% during the third quarter. State Street Corp now owns 4,269,561 shares of the company’s stock worth $51,704,000 after purchasing an additional 26,492 shares during the period. Rice Hall James & Associates LLC lifted its holdings in Arlo Technologies by 4.9% in the third quarter. Rice Hall James & Associates LLC now owns 4,069,476 shares of the company’s stock valued at $49,281,000 after buying an additional 191,536 shares during the period. Wasatch Advisors LP raised its holdings in shares of Arlo Technologies by 7.1% during the third quarter. Wasatch Advisors LP now owns 3,746,784 shares of the company’s stock valued at $45,374,000 after purchasing an additional 247,160 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Arlo Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,192,273 shares of the company’s stock valued at $26,554,000 after purchasing an additional 48,221 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

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.