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CARLSBAD, CA—Matthew Blake McRae, CEO of Arlo Technologies , Inc. (NYSE:ARLO), a nearly $1 billion market cap company with strong cash position and volatile stock performance according to InvestingPro, recently executed several stock transactions, according to a filing with the Securities and Exchange Commission. On April 29, McRae sold 25,405 shares of common stock at an average price of $9.8999 per share, amounting to a total of $251,506. This sale was conducted to satisfy estimated tax withholding obligations upon the settlement of performance stock units (PSUs).
In a separate transaction on April 28, McRae acquired 47,350 shares through the vesting of PSUs, as part of a performance-based compensation plan. These units were converted into common stock at no cost, contingent upon meeting specific vesting conditions related to the company’s stock price performance.
Following these transactions, McRae holds a total of 2,580,370 shares of Arlo Technologies’ common stock directly. While current analysis suggests the stock is trading above its Fair Value, analysts expect the company to turn profitable this year, with additional insights available in InvestingPro’s exclusive financial health assessment.
In other recent news, Arlo Technologies reported its fourth quarter and full year 2024 financial results, slightly surpassing revenue expectations with $121.6 million, compared to the projected $121.2 million. The company’s service revenue, a crucial segment, grew by 21% year-over-year, contributing significantly to an annual revenue total of $511 million, marking a 4% increase from the previous year. Arlo’s annual recurring revenue also showed a robust growth of 22.5% year-over-year, reaching $257.3 million. Despite a minor miss on the earnings per share (EPS) forecast, which came in at $0.10 against the expected $0.11, the company’s stock saw a positive market response. Analysts from Lake Street noted the company’s strong performance and maintained a price target of $17, citing Arlo’s growth potential and strategic initiatives. The company has also set an optimistic outlook for 2025, projecting service revenue to exceed $300 million, representing a 25% year-over-year growth. Additionally, Arlo plans to launch its largest device lineup in company history during the 2025 holiday season, aiming to further boost its market presence.
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