Owlet (NYSE:OWLT) CEO Jonathan Harris Sells 2,311 Shares

Owlet, Inc. (NYSE:OWLT) CEO Jonathan Harris sold 2,311 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $13.33, for a total transaction of $30,805.63. Following the sale, the chief executive officer owned 264,396 shares of the company’s stock, valued at $3,524,398.68. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Owlet Price Performance

Owlet stock traded down $0.49 during trading hours on Thursday, reaching $13.21. The stock had a trading volume of 105,629 shares, compared to its average volume of 227,757. The stock has a market cap of $225.63 million, a PE ratio of -4.48 and a beta of 1.78. Owlet, Inc. has a 52 week low of $2.75 and a 52 week high of $16.94. The company has a fifty day simple moving average of $14.01 and a 200-day simple moving average of $10.26.

Owlet (NYSE:OWLT) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.26. The firm had revenue of $31.99 million for the quarter, compared to the consensus estimate of $26.00 million. Research analysts predict that Owlet, Inc. will post -0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

OWLT has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Owlet in a research report on Thursday, January 8th. Wall Street Zen raised Owlet from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Northland Securities set a $20.00 price target on shares of Owlet and gave the company an “outperform” rating in a report on Tuesday, December 30th. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, William Blair began coverage on shares of Owlet in a report on Tuesday, December 9th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Owlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Hedge Funds Weigh In On Owlet

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in Owlet during the first quarter valued at $43,000. Bank of America Corp DE increased its stake in shares of 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 acquiring an additional 5,149 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Owlet during the 4th quarter valued at about $60,000. XTX Topco Ltd bought a new stake in Owlet during the second quarter worth about $90,000. Finally, Marshall Wace LLP bought a new stake in Owlet during the second quarter worth about $336,000. 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.