Arlo Technologies, Inc. (NYSE:ARLO) CEO Sells $3,654,071.76 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 316,644 shares of Arlo Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock traded up $0.96 on Tuesday, hitting $12.77. 1,085,936 shares of the company’s stock traded hands, compared to its average volume of 1,097,540. The firm’s 50-day moving average is $11.42 and its 200 day moving average is $12.61. Arlo Technologies, Inc. has a 52-week low of $8.33 and a 52-week high of $17.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ARLO shares. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, November 8th. Craig Hallum cut their price target on shares of Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Hedge Funds Weigh In On Arlo Technologies

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after purchasing an additional 1,882 shares during the last quarter. Chilton Capital Management LLC bought a new stake in Arlo Technologies during the 2nd quarter valued at $33,000. GAMMA Investing LLC grew its holdings in shares of Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after acquiring an additional 840 shares in the last quarter. CWM LLC grew its stake in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Arlo Technologies in the second quarter worth approximately $62,000. Institutional investors and hedge funds 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.