Amanda Crawford Sells 4,225 Shares of Owlet (NYSE:OWLT) Stock

Key Points

• CFO Amanda Crawford sold 4,225 shares of Owlet on Sept. 10 at an average price of $7.06 for $29,828.50 to cover tax withholding on vested awards, trimming her stake to 150,989 shares (a 2.72% reduction) per the SEC filing.
• The sale is part of a string of recent insider dispositions—including a prior Crawford sale and a large CEO sale of 49,056 shares—that MarketBeat notes may weigh on sentiment even though many transactions were described as routine "sell-to-cover" tax actions.
• Owlet recently beat Q1 estimates (EPS -$0.03 vs. -$0.13 and revenue $26.55M vs. $26.01M), trades around $4.94 with a $139M market cap, and holds a consensus analyst rating of "Hold" with an average price target of $20.00.

Owlet, Inc. (NYSE:OWLT - Get Free Report) CFO Amanda Crawford sold 4,225 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $7.06, for a total value of $29,828.50. Following the transaction, the chief financial officer directly owned 150,989 shares in the company, valued at $1,065,982.34. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $11.50, for a total value of $79,258.00.

Owlet Stock Up 1.7%

Shares of NYSE:OWLT traded up $0.08 during trading on Thursday, reaching $4.94. 211,452 shares of the stock were exchanged, compared to its average volume of 310,038. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.85 and a quick ratio of 1.51. Owlet, Inc. has a 1-year low of $3.78 and a 1-year high of $16.94. The stock has a fifty day moving average of $6.75 and a two-hundred day moving average of $10.36. The firm has a market cap of $139.19 million, a price-to-earnings ratio of -1.82 and a beta of 2.00.

Owlet (NYSE:OWLT - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.10. The firm had revenue of $26.55 million for the quarter, compared to analyst estimates of $26.01 million. Research analysts anticipate that Owlet, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OWLT has been the topic of a number of research reports. Zacks Research lowered Owlet from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. TD Cowen reissued a "buy" rating on shares of Owlet in a research report on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Owlet in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Owlet from a "hold" rating to a "sell" rating in a research report on Saturday, March 14th. Three 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. According to MarketBeat.com, Owlet currently has a consensus rating of "Hold" and an average price target of $20.00.

Owlet News Roundup

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

Institutional Investors Weigh In On Owlet

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

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.

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