Arlo Technologies Inc.’s recently made public that its CEO MCRAE MATTHEW BLAKE unloaded Company’s shares for reported $1.84 million on Sep 01. In the deal valued at $9.82 per share,187,623 shares were sold. As a result of this transaction, MCRAE MATTHEW BLAKE now holds 2,438,972 shares worth roughly $ 24.78 million.
Then, MCRAE MATTHEW BLAKE sold 197,153 shares, generating $1,955,561 in total proceeds. Upon selling the shares at $9.92, the CEO now owns 2,626,595 shares.
Before that, MCRAE MATTHEW BLAKE sold 192,238 shares. Arlo Technologies Inc. shares valued at $1,908,289 were divested by the CEO at a price of $9.93 per share. As a result of the transaction, MCRAE MATTHEW BLAKE now holds 2,823,748 shares, worth roughly $28.69 million.
Craig Hallum initiated its Arlo Technologies Inc. [ARLO] rating to a Buy in a research note published on Tuesday, June 29, 2023; the price target was $17. PT values the company’s stock at a premium of 40.24 to its Tuesday closing price.
Price Performance Review of ARLO
On Tuesday, Arlo Technologies Inc. [NYSE:ARLO] saw its stock jump 2.73% to $10.16. On the same session, the stock had its day’s lowest price of $9.69, but rose to a high of $10.23. Over the last five days, the stock has gained 2.11%. Arlo Technologies Inc. shares have risen nearly 189.46% since the year began. Nevertheless, the stocks have risen 71.04% over the past one year. While a 52-week high of $11.54 was reached on 07/17/23, a 52-week low of $2.93 was recorded on 03/07/23. SMA at 50 days reached $10.57, while 200 days put it at $6.85. A total of 0.8 million shares were traded, compared to the trading of 1.45 million shares in the previous session.
Levels Of Support And Resistance For ARLO Stock
The 24-hour chart illustrates a support level at 9.82, which if violated will result in even more drops to 9.49. On the upside, there is a resistance level at 10.36. A further resistance level may holdings at 10.57. The Relative Strength Index (RSI) on the 14-day chart is 49.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.91%. Stochastics %K at 40.08% indicates the stock is a holding.
How much short interest is there in Arlo Technologies Inc.?
A steep rise in short interest was recorded in Arlo Technologies Inc. stocks on Aug 14, 2023, dropping by -0.24 million shares to a total of 3.69 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.93 million shares. There was a decline of -6.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.72% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.2.
Arlo Technologies Inc. [ARLO] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 13,312,906 shares, or roughly 14.50% of the outstanding ARLO shares. In other words, the investor’s shares have risen by 410,015 from its previous 13-F filing of 12902891.0. Additionally, The Vanguard Group, Inc. increased 15.11% of its stake after which the total value it holdings stand at $100,211,831, while PRIMECAP Management Co. reduced -2.97% of its stake to hold $53.36 million in the firm. Over the last quarter, Rice, Hall, James & Associates LL sold -3,472 shares of Arlo Technologies Inc., while Brandes Investment Partners LP sold 812,917 shares. At present, SSgA Funds Management, Inc. is holding 3,068,478 shares valued at $34.86 million. Cannell Capital LLC owned 2,159,653 shares of the company at the time of its most recent 13F filing, worth $24.53 million.
According to FactSet, Arlo Technologies Inc.’s share price will average $14.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 56.72 percent from its previous closing price of $9.89. Analysts expect Arlo Technologies Inc. stock to reach the higher price of $17.00, while the lowest price estimate is $11.00. However, 4 analysts have rated ARLO stock as an Overweight in their predictions for 2023.