Owlet (NYSE:OWLT) CEO Sells $30,805.63 in Stock

Owlet, Inc. (NYSE:OWLT) CEO Jonathan Harris sold 2,311 shares of the 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 $3,524,398.68. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Owlet Stock Down 2.6%

OWLT stock opened at $12.93 on Friday. The stock has a 50-day simple moving average of $14.06 and a two-hundred day simple moving average of $10.30. Owlet, Inc. has a twelve month low of $2.75 and a twelve month high of $16.94. The firm has a market capitalization of $220.86 million, a PE ratio of -4.38 and a beta of 1.78.

Owlet (NYSE:OWLT) last released its quarterly earnings data 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 the consensus estimate of $26.00 million. On average, equities research analysts anticipate that Owlet, Inc. will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Owlet

Several institutional investors have recently modified their holdings of OWLT. Granahan Investment Management LLC raised its holdings in shares of Owlet by 135.9% during the 3rd quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock valued at $4,319,000 after buying an additional 293,771 shares in the last quarter. Next Century Growth Investors LLC bought a new position in Owlet during the second quarter valued at approximately $1,653,000. Vanguard Group Inc. raised its stake in shares of Owlet by 86.3% during the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after acquiring an additional 180,619 shares in the last quarter. Archon Capital Management LLC bought a new stake in shares of Owlet in the 2nd quarter worth approximately $442,000. Finally, Marshall Wace LLP purchased a new stake in shares of Owlet in the 2nd quarter valued at $336,000. 72.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.