Owlet (NYSE:OWLT) CEO Sells $35,907.27 in Stock

Owlet, Inc. (NYSE:OWLT) CEO Jonathan Harris sold 3,423 shares of Owlet stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $10.49, for a total value of $35,907.27. Following the sale, the chief executive officer directly owned 313,886 shares of the company’s stock, valued at approximately $3,292,664.14. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jonathan Harris also recently made the following trade(s):

• On Thursday, February 26th, Jonathan Harris sold 12,676 shares of Owlet stock. The stock was sold at an average price of $11.50, for a total value of $145,774.00.
• On Tuesday, February 17th, Jonathan Harris sold 3,540 shares of Owlet stock. The shares were sold at an average price of $10.65, for a total value of $37,701.00.

Owlet Price Performance

NYSE OWLT traded up $0.08 during midday trading on Thursday, hitting $4.94. The company had a trading volume of 211,452 shares, compared to its average volume of 310,038. The company has a market capitalization of $139.19 million, a PE ratio of -1.82 and a beta of 2.00. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $6.75 and a 200-day moving average price of $10.36. Owlet, Inc. has a twelve month low of $3.78 and a twelve month high of $16.94.

Owlet (NYSE:OWLT) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The company had revenue of $26.55 million during the quarter, compared to analyst estimates of $26.01 million. As a group, analysts anticipate that Owlet, Inc. will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Owlet

Several hedge funds and other institutional investors have recently modified their holdings of the business. Informed Momentum Co LLC increased its stake in shares of Owlet by 1.6% in the 4th quarter. Informed Momentum Co LLC now owns 112,893 shares of the company’s stock valued at $1,828,000 after purchasing an additional 1,737 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Owlet in the 4th quarter valued at $60,000. Perkins Capital Management Inc. increased its stake in shares of Owlet by 3.9% in the 1st quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company’s stock valued at $545,000 after purchasing an additional 3,990 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Owlet by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock worth $1,971,000 after acquiring an additional 4,160 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Owlet by 6,517.7% during the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after acquiring an additional 5,149 shares during the last quarter. Institutional investors own 72.60% of the company’s stock.

Key Headlines Impacting Owlet

Here are the key news stories impacting Owlet this week:

• Neutral Sentiment: Multiple small insider “sell-to-cover” transactions by company executives are routine and largely intended to cover tax withholding on vested awards; these reduce the negative signal versus open-market deliberate divestitures. Representative filing for several of the CFO’s trades is here: SEC Filings (CFO)
• Negative Sentiment: Large insider sale by CEO Kurt Workman — he sold 49,056 shares ( ~11.4% reduction at the time) in October, a sizable block that can be interpreted negatively by investors even if described as tax-related. Filing: Workman SEC Filing
• Negative Sentiment: Significant sales by other senior executives — CEO Jonathan Harris sold 12,676 shares on Feb. 26 (material size) and CFO Amanda Crawford sold 6,892 shares on Feb. 27; both transactions were disclosed as covering tax withholding but reduce insider ownership and can pressure sentiment. Harris filing: Harris SEC Filing — Crawford filing: Crawford SEC Filing
• Negative Sentiment: Analyst preview (Zacks) expects Q1 earnings to decline, signaling downside to near-term fundamentals and raising the risk of an earnings miss or guidance cut — this is a direct negative pressure on valuation and near-term sentiment. Earnings Preview: Zacks

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OWLT shares. Zacks Research cut Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. TD Cowen reaffirmed a “buy” rating on shares of Owlet in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered Owlet from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Owlet Company Profile

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.