Owlet (NYSE:OWLT) CEO Jonathan Harris Sells 2,311 Shares

Owlet, Inc. (NYSE:OWLT) CEO Jonathan Harris sold 2,311 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total value of $30,805.63. Following the completion of the sale, the chief executive officer directly owned 264,396 shares in the company, valued at approximately $3,524,398.68. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Owlet Stock Performance

Shares of Owlet stock traded down $0.49 during midday trading on Thursday, hitting $13.21. The company had a trading volume of 105,629 shares, compared to its average volume of 227,757. Owlet, Inc. has a 52-week low of $2.75 and a 52-week high of $16.94. The company has a 50 day moving average of $14.01 and a 200 day moving average of $10.26. The stock has a market capitalization of $225.63 million, a P/E ratio of -4.48 and a beta of 1.78.

Owlet (NYSE:OWLT) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.26. The firm had revenue of $31.99 million during the quarter, compared to the consensus estimate of $26.00 million. Equities research analysts forecast that Owlet, Inc. will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Owlet

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new position in shares of Owlet during the 1st quarter valued at $43,000. XTX Topco Ltd bought a new stake in shares of Owlet in the second quarter worth $90,000. Marshall Wace LLP bought a new stake in shares of Owlet in the second quarter worth $336,000. Archon Capital Management LLC purchased a new stake in Owlet during the second quarter valued at $442,000. Finally, Next Century Growth Investors LLC bought a new position in Owlet in the second quarter valued at about $1,653,000. Institutional investors own 72.60% of the company’s stock.

Wall Street Analysts Forecast Growth

OWLT has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Owlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a research note on Wednesday, October 8th. Northland Securities set a $20.00 target price on Owlet and gave the stock an “outperform” rating in a report on Tuesday, December 30th. William Blair started coverage on Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating for the company. Finally, TD Cowen reaffirmed a “buy” rating on shares of Owlet in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.25.

About Owlet

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.