Owlet (NYSE:OWLT) CFO Sells $29,828.50 in Stock

Owlet, Inc. (NYSE:OWLT) CFO Amanda Crawford sold 4,225 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $7.06, for a total transaction of $29,828.50. Following the sale, the chief financial officer owned 150,989 shares of the company’s stock, valued at $1,065,982.34. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amanda Crawford also recently made the following trade(s):

• On Friday, February 27th, Amanda Crawford sold 6,892 shares of Owlet stock. The shares were sold at an average price of $11.50, for a total transaction of $79,258.00.

Owlet Trading Down 2.4%

NYSE:OWLT opened at $4.82 on Friday. The company has a fifty day moving average of $6.63 and a 200 day moving average of $10.33. Owlet, Inc. has a 52 week low of $3.86 and a 52 week high of $16.94. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $135.73 million, a P/E ratio of -1.78 and a beta of 1.84.

Owlet (NYSE:OWLT) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $26.55 million for the quarter, compared to the consensus estimate of $26.01 million. On average, research analysts predict that Owlet, Inc. will post -0.63 earnings per share for the current year.

More Owlet News

Here are the key news stories impacting Owlet this week:

• Positive Sentiment: Owlet reported a better-than-expected March quarter (EPS -$0.03 vs. -$0.13 consensus; revenue $26.55M vs. $26.01M), which supports near?term confidence that revenue and margins may stabilize. MarketBeat: Owlet quarter beat
• Positive Sentiment: Large institutional buyers have added stakes recently (several funds disclosed increased positions), leaving institutional ownership high — a constructive backdrop for liquidity and potential price support. MarketBeat: Institutional holdings
• Neutral Sentiment: Executives continue to sell shares, but filings repeatedly state sales were to cover tax withholding on vested awards (routine pretext). The activity is disclosed across multiple Form 4 filings; investors should note these are recurring, not necessarily opportunistic. SEC Form 4 filings
• Negative Sentiment: A Zacks earnings preview warns Owlet lacks the setup for a Q1 beat and expects earnings to decline; if Q1 results or guidance disappoint, that could put renewed downward pressure on the stock despite the recent quarter’s outperformance. Zacks: Q1 earnings preview

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OWLT. Goldman Sachs Group Inc. bought a new position in Owlet in the 1st quarter worth $43,000. XTX Topco Ltd bought a new position in Owlet in the 2nd quarter worth $90,000. Marshall Wace LLP bought a new position in Owlet in the 2nd quarter worth $336,000. Vanguard Group Inc. raised its holdings in Owlet by 86.3% in the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after purchasing an additional 180,619 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Owlet by 6,517.7% in the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after purchasing an additional 5,149 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Owlet from a “sell” rating to a “strong sell” rating in a report on Saturday. TD Cowen reiterated a “buy” rating on shares of Owlet in a report on Friday, March 6th. Finally, Zacks Research lowered shares of Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Three equities 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 company’s stock. Based on data from MarketBeat, Owlet currently has a consensus rating of “Hold” and an average 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.