Insider Selling: Owlet (NYSE:OWLT) CFO Sells 4,225 Shares of 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 value of $29,828.50. Following the completion of the transaction, the chief financial officer owned 150,989 shares of the company’s stock, valued at $1,065,982.34. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $79,258.00.

Owlet Stock Performance

NYSE:OWLT traded up $0.08 during trading on Thursday, reaching $4.94. The company’s stock had a trading volume of 211,452 shares, compared to its average volume of 310,038. The firm has a market cap of $139.19 million, a price-to-earnings ratio of -1.82 and a beta of 2.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.51 and a current ratio of 1.85. The firm has a 50 day moving average of $6.75 and a 200-day moving average of $10.36. Owlet, Inc. has a 12 month low of $3.78 and a 12 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $26.55 million during the quarter, compared to the consensus estimate of $26.01 million. Research analysts expect that Owlet, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Owlet in the 4th quarter valued at approximately $60,000. Bank of America Corp DE boosted 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 worth $44,000 after purchasing an additional 5,149 shares during the period. XTX Topco Ltd bought a new position in Owlet in the 2nd quarter worth about $90,000. Goldman Sachs Group Inc. bought a new position in Owlet in the 1st quarter worth about $43,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Owlet in the 4th quarter worth about $242,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

Owlet News Summary

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 Analysts Forecast Growth

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

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.