Owlet (NYSE:OWLT) CEO Kurt Workman Sells 49,056 Shares of Stock

Owlet, Inc. (NYSE:OWLT) CEO Kurt Workman sold 49,056 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $8.46, for a total transaction of $415,013.76. Following the transaction, the chief executive officer owned 382,080 shares in the company, valued at $3,232,396.80. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Owlet Stock Performance

Shares of NYSE:OWLT opened at $4.94 on Friday. The company has a market capitalization of $139.19 million, a price-to-earnings ratio of -1.82 and a beta of 2.00. Owlet, Inc. has a 12 month low of $3.78 and a 12 month high of $16.94. The firm’s 50-day moving average is $6.63 and its 200 day moving average is $10.32. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13.

Owlet (NYSE:OWLT) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $26.55 million for the quarter, compared to the consensus estimate of $26.01 million. Research analysts predict that Owlet, Inc. will post -0.63 EPS for the current year.

Trending Headlines about Owlet

Here are the key news stories impacting Owlet this week:

• Positive Sentiment: Recent quarter outperformance: Owlet beat consensus in its March quarter — reported ($0.03) EPS vs. consensus ($0.13) loss and revenue of $26.55M vs. $26.01M expected. That recent beat supports investor sentiment that the company can stabilize near-term revenue.
• Neutral Sentiment: Consolidated insider sales disclosed: multiple filings show CFO Amanda Crawford and executives (including Jonathan Harris and Kurt Workman) sold shares across 2023–2026 to cover tax withholding tied to vested awards. Largest disclosed sales include Crawford’s 6,892 shares (Feb 27 at $11.50) and Workman’s 49,056-share sale (Oct 3 at $8.46); Jonathan Harris sold 12,676 shares (Feb 26 at $11.50). These sales reduce insider holdings but were reported as tax-withholding transactions rather than open-market liquidation for other purposes — watch for any follow-up changes in insider behavior. CFO Form 4 CEO Form 4
• Negative Sentiment: Analyst preview flags risk for Q1: A Zacks earnings preview says Owlet likely lacks the setup for an earnings beat in Q1 and expects earnings to decline, which could keep near-term downside pressure on the stock if the company misses or issues cautious guidance. Earnings Preview

Hedge Funds Weigh In On Owlet

A number of hedge funds have recently added to or reduced their stakes in the stock. Informed Momentum Co LLC boosted its stake in shares of Owlet by 1.6% during the fourth quarter. Informed Momentum Co LLC now owns 112,893 shares of the company’s stock valued at $1,828,000 after purchasing an additional 1,737 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Owlet during the fourth quarter valued at approximately $60,000. Perkins Capital Management Inc. boosted its stake 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 valued at $545,000 after purchasing an additional 3,990 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Owlet by 3.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock valued at $1,971,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after purchasing an additional 5,149 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OWLT has been the topic of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Zacks Research downgraded shares of Owlet from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Owlet from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

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.