Insider Selling: Owlet (NYSE:OWLT) CFO Sells $79,258.00 in Stock

Owlet, Inc. (NYSE:OWLT) CFO Amanda Crawford sold 6,892 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $11.50, for a total value of $79,258.00. Following the sale, the chief financial officer owned 212,800 shares of the company’s stock, valued at $2,447,200. This trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Owlet Trading Down 2.4%

Shares of Owlet stock opened at $4.82 on Friday. The stock has a fifty day simple moving average of $6.63 and a 200 day simple moving average of $10.33. Owlet, Inc. has a 12-month low of $3.86 and a 12-month high of $16.94. The company has a market capitalization of $135.73 million, a P/E ratio of -1.78 and a beta of 1.84. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13.

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

Analyst Ratings Changes

OWLT has been the subject of several recent research reports. Wall Street Zen downgraded Owlet from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a report on Tuesday, April 21st. TD Cowen reiterated a “buy” rating on shares of Owlet in a report on Friday, March 6th. Finally, Zacks Research downgraded Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Owlet presently has an average rating of “Hold” and an average target price of $20.00.

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

A number of institutional investors have recently bought and sold shares of the business. Informed Momentum Co LLC grew its stake in 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 period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Owlet in the 4th quarter valued at $60,000. Perkins Capital Management Inc. grew its stake in 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 period. Harbor Capital Advisors Inc. grew its stake in Owlet by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock valued at $1,971,000 after purchasing an additional 4,160 shares during the period. Finally, Bank of America Corp DE grew its stake 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 valued at $44,000 after purchasing an additional 5,149 shares during the period. Institutional investors own 72.60% of the company’s stock.

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.