Insider Selling: Owlet (NYSE:OWLT) CEO Sells $15,618.35 in Stock

Owlet, Inc. (NYSE:OWLT) CEO Jonathan Harris sold 1,945 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $8.03, for a total transaction of $15,618.35. Following the sale, the chief executive officer owned 262,451 shares in the company, valued at $2,107,481.53. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $145,774.00.
• On Tuesday, February 17th, Jonathan Harris sold 3,540 shares of Owlet stock. The stock was sold at an average price of $10.65, for a total transaction of $37,701.00.

Owlet Price Performance

Shares of NYSE OWLT opened at $4.82 on Friday. The firm has a market capitalization of $135.73 million, a P/E ratio of -1.78 and a beta of 1.84. Owlet, Inc. has a one year low of $3.86 and a one year high of $16.94. The company’s fifty day moving average is $6.63 and its two-hundred day moving average is $10.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.51 and a current ratio of 1.85.

Owlet (NYSE:OWLT) last issued its earnings results on Thursday, March 5th. The company reported ($0.03) 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 analysts’ expectations of $26.01 million. Analysts forecast that Owlet, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OWLT. Goldman Sachs Group Inc. acquired a new position in Owlet in the 1st quarter valued at about $43,000. Bank of America Corp DE raised 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 last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Owlet in the 4th quarter valued at about $60,000. XTX Topco Ltd acquired a new position in Owlet in the 2nd quarter valued at about $90,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Owlet in the 4th quarter valued at about $242,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Wall Street Analyst Weigh In

OWLT has been the topic of several research analyst reports. Zacks Research lowered shares of Owlet from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research note on Tuesday, April 21st. Wall Street Zen downgraded Owlet from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Three equities 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 stock. Based on data from MarketBeat, Owlet presently has an average rating of “Hold” and a consensus price target of $20.00.

Trending Headlines about Owlet

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

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.