Owlet (NYSE:OWLT) CEO Sells $145,774.00 in Stock

Key Points

• Owlet CEO Jonathan Harris sold 12,676 shares on Feb. 26 at an average price of $11.50 for $145,774 to cover tax withholding, leaving him with 339,336 shares (a 3.6% reduction).
• Several insiders—including Harris and CFO Amanda Crawford—have executed recent "sell-to-cover" trades, and a prior large sale by former CEO Kurt Workman could pressure investor sentiment despite tax-related explanations.
• Owlet beat Q1 estimates (reported EPS -$0.03 vs. consensus -$0.13 and revenue $26.55M vs. $26.01M), but the stock trades near its 52‑week low with a ~$139M market cap and a mixed analyst consensus of "Hold" (consensus target $20).

Owlet, Inc. (NYSE:OWLT - Get Free Report) CEO Jonathan Harris sold 12,676 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $11.50, for a total transaction of $145,774.00. Following the sale, the chief executive officer owned 339,336 shares of the company's stock, valued at approximately $3,902,364. The trade was a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Tuesday, February 17th, Jonathan Harris sold 3,540 shares of Owlet stock. The shares were sold at an average price of $10.65, for a total transaction of $37,701.00.

Owlet Stock Performance

OWLT stock traded up $0.08 during trading on Thursday, hitting $4.94. 211,452 shares of the company's stock traded hands, compared to its average volume of 310,038. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.13. Owlet, Inc. has a 52 week low of $3.78 and a 52 week high of $16.94. The stock has a fifty day moving average price of $6.75 and a two-hundred day moving average price of $10.36. The stock has a market capitalization 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 released its earnings results on Thursday, March 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $26.55 million for the quarter, compared to the consensus estimate of $26.01 million. As a group, equities analysts anticipate that Owlet, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on OWLT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Owlet in a research note on Tuesday, April 21st. Zacks Research lowered shares of Owlet from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. TD Cowen restated a "buy" rating on shares of Owlet in a research report on Friday, March 6th. Finally, Wall Street Zen lowered shares of 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 given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Owlet presently has an average rating of "Hold" and a consensus target price of $20.00.

Key Owlet News

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

Hedge Funds Weigh In On Owlet

Several institutional investors have recently modified their holdings of the company. Perkins Capital Management Inc. grew its position in shares of Owlet by 3.9% during the first quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company's stock worth $545,000 after acquiring an additional 3,990 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Owlet during the fourth quarter worth about $276,000. Millennium Management LLC bought a new position in shares of Owlet during the fourth quarter worth about $591,000. Manatuck Hill Partners LLC bought a new position in shares of Owlet during the fourth quarter worth about $1,619,000. Finally, Engineers Gate Manager LP bought a new position in shares of Owlet during the fourth quarter worth about $246,000. 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.

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