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Owlet, Inc. (NYSE:OWLT) President Jonathan Harris has recently executed a series of stock sales totaling $56,606, according to a Form 4 filing with the Securities and Exchange Commission. The transactions were conducted over several months, with prices per share ranging from $3.19 to $5.11. With a current market capitalization of $83 million, InvestingPro analysis indicates the stock is trading near its Fair Value, while analysts have set price targets ranging from $7.50 to $15.00.
The sales were part of a non-discretionary transaction to cover taxes and fees associated with the vesting and settlement of restricted stock units. On November 18, 2024, Harris sold 3,604 shares at $4.45 each. This was followed by a sale of 5,184 shares at $3.19 on April 8, 2025, and another sale of 1,817 shares at $3.20 on April 16, 2025. The most recent transaction took place on May 19, 2025, when Harris sold 3,565 shares at $5.11. The stock has shown strong momentum, delivering a 31% return over the past year despite the company’s significant cash burn rate.
Following these transactions, Harris retains direct ownership of 266,707 shares of Owlet common stock. InvestingPro subscribers can access additional insights, including 6 more ProTips and a comprehensive analysis of Owlet’s financial health and future prospects.
In other recent news, Owlet Inc. reported strong financial results for the first quarter of 2025, highlighted by a 43.1% increase in revenue year-over-year, reaching $21.1 million. The company achieved a positive net income of $3 million, marking a significant turnaround in profitability. Owlet’s gross margin also improved, expanding by 930 basis points from the previous year to 53.7%. The company has provided revenue guidance for 2025 in the range of $91-$95 million, anticipating a 17-22% year-over-year growth. Owlet also announced a strategic partnership with the Children’s Hospital of the King’s Daughters, allowing babies to leave the hospital with an Owlet monitor for the first time. Additionally, Owlet’s new subscription service, Owlet 360, has seen substantial growth, with over 48,000 paying subscribers. The company is navigating challenges such as transitioning manufacturing to Vietnam to mitigate tariff impacts. Analyst firms like TD Cowen and Northland Capital noted the company’s strategic initiatives and strong market positioning.
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