Owlet, Inc. (NYSE:OWLT) Chief Financial Officer Kathryn R. Scolnick has recently sold a portion of her company shares, according to the latest filings. The transactions, which took place on May 10 and May 16, involved the sale of Owlet common stock at weighted average prices ranging from $4.21 to $4.25 per share.
On May 10, Scolnick sold 2,789 shares at an average price of $4.22, totaling approximately $11,769. A few days later, on May 16, an additional 301 shares were sold at an average price of $4.09 per share, amounting to $1,231. The latter transaction was automatically executed to cover taxes and fees related to the vesting of restricted stock units.
Following these transactions, Scolnick's holdings in Owlet decreased, yet she still retains a significant number of shares. Owlet, Inc., headquartered in Lehi, Utah, operates in the field of measuring and controlling devices, providing innovative health monitoring products for infants and caregivers.
Investors typically monitor insider transactions as they can provide insights into executives’ perspectives on their company's stock value. The sales made by CFO Scolnick are part of the regular financial disclosures required by corporate insiders.
InvestingPro Insights
As Owlet, Inc. (NYSE:OWLT) navigates its financial pathway, the recent insider transactions by CFO Kathryn R. Scolnick have caught the attention of investors. With the backdrop of these transactions, it's worth noting some key financial metrics and insights provided by InvestingPro that could shed further light on the company's current standing and future prospects.
One of the notable InvestingPro Data points is Owlet's market capitalization, which currently stands at 35.26 million USD. This valuation reflects the market's assessment of the company's worth as of the latest data. Despite the company's efforts in the innovative health monitoring products space, Owlet has been experiencing a negative revenue growth of -0.5% over the last twelve months, as of Q1 2024. However, there's a silver lining with a quarterly revenue growth of 37.85% in Q1 2024, indicating potential for recovery and expansion.
According to InvestingPro Tips, Owlet is trading at a low revenue valuation multiple, which may appeal to value investors looking for opportunities in the health technology sector. Yet, the company is quickly burning through cash, a situation that requires careful consideration by potential investors. Owlet's stock price movements have also been quite volatile, which could be a factor for those with a lower risk tolerance. Additionally, Owlet does not pay a dividend to shareholders, which might influence the investment decisions of those seeking regular income from their investments.
For those interested in a deeper analysis of Owlet, Inc., there are more InvestingPro Tips available, providing a comprehensive look at the company's financial health and stock performance. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With this subscription, investors can access a total of 7 insightful tips for Owlet, including expectations on profitability and analysts' perspectives.
These insights, combined with the latest insider transactions, could help investors make more informed decisions regarding their interest in Owlet, Inc.
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