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

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

Owlet Trading Down 2.6%

Shares of OWLT stock opened at $12.93 on Friday. Owlet, Inc. has a 12 month low of $2.75 and a 12 month high of $16.94. The company has a market capitalization of $220.91 million, a P/E ratio of -4.38 and a beta of 1.78. The stock has a 50 day moving average of $14.06 and a two-hundred day moving average of $10.29.

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

Hedge Funds Weigh In On Owlet

A number of institutional investors and hedge funds have recently bought and sold shares of OWLT. Goldman Sachs Group Inc. bought a new stake in shares of Owlet during the first quarter worth $43,000. Bank of America Corp DE grew its holdings in Owlet by 6,517.7% during 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Owlet in the 4th quarter valued at about $60,000. XTX Topco Ltd bought a new position in shares of Owlet in the second quarter worth about $90,000. Finally, Marshall Wace LLP acquired a new position in shares of Owlet during the second quarter worth approximately $336,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OWLT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research note on Thursday. Northland Securities set a $20.00 target price on Owlet and gave the stock an “outperform” rating in a report on Tuesday, December 30th. TD Cowen reaffirmed a “buy” rating on shares of Owlet in a research note on Thursday, January 8th. William Blair assumed coverage on Owlet in a research note on Tuesday, December 9th. They set an “outperform” rating for the company. Finally, Zacks Research upgraded shares of Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Owlet Company Profile

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.