Trade Alert: President & Chief Revenue Officer Of Owlet Jonathan Harris Has Sold Stock

We'd be surprised if Owlet, Inc. (NYSE:OWLT) shareholders haven't noticed that the President & Chief Revenue Officer, Jonathan Harris, recently sold US$106k worth of stock at US$4.40 per share. The eyebrow raising move amounted to a reduction of 32% in their holding.

See our latest analysis for Owlet

Owlet Insider Transactions Over The Last Year

Notably, that recent sale by Jonathan Harris is the biggest insider sale of Owlet shares that we've seen in the last year. So it's clear an insider wanted to take some cash off the table, even slightly below the current price of US$4.47. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. We note that the biggest single sale was only 32% of Jonathan Harris's holding.

In the last year Owlet insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

I will like Owlet better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Does Owlet Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. From our data, it seems that Owlet insiders own 8.1% of the company, worth about US$5.8m. Whilst better than nothing, we're not overly impressed by these holdings.

So What Does This Data Suggest About Owlet Insiders?

Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. Insiders own relatively few shares in the company, and when you consider the sales, we're not particularly excited about the stock. So we'd only buy after very careful consideration. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. When we did our research, we found 5 warning signs for Owlet (2 are a bit concerning!) that we believe deserve your full attention.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.