Honest (NASDAQ:HNST) Insider Sells $21,662.86 in Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Dorria Ball sold 6,899 shares of Honest stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total transaction of $21,662.86. Following the completion of the transaction, the insider directly owned 425,396 shares of the company’s stock, valued at $1,335,743.44. The trade was a 1.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Stock Up 6.9%

Shares of Honest stock traded up $0.22 on Friday, reaching $3.41. The company’s stock had a trading volume of 1,777,147 shares, compared to its average volume of 1,839,630. The company has a market capitalization of $375.37 million, a P/E ratio of -20.06 and a beta of 2.15. The Honest Company, Inc. has a 52-week low of $2.07 and a 52-week high of $5.28. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price of $2.78.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Honest had a negative net margin of 5.39% and a positive return on equity of 3.52%. The business had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $76.25 million. Sell-side analysts forecast that The Honest Company, Inc. will post 0.1 earnings per share for the current fiscal year.

Honest declared that its Board of Directors has approved a share buyback program on Friday, February 20th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Honest

Several institutional investors and hedge funds have recently bought and sold shares of HNST. Portolan Capital Management LLC lifted its stake in shares of Honest by 11.4% in the 3rd quarter. Portolan Capital Management LLC now owns 6,928,004 shares of the company’s stock valued at $25,495,000 after purchasing an additional 710,651 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Honest in the 3rd quarter valued at $286,000. Wealthfront Advisers LLC acquired a new position in shares of Honest in the 3rd quarter valued at $75,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Honest by 18.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock valued at $81,000 after purchasing an additional 3,365 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Honest in the 4th quarter valued at $140,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on HNST. Zacks Research upgraded Honest from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Alliance Global Partners restated a “buy” rating on shares of Honest in a report on Thursday, May 7th. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 target price on shares of Honest in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Honest in a report on Thursday, January 22nd. Finally, Morgan Stanley set a $3.40 target price on Honest in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Honest currently has an average rating of “Hold” and a consensus target price of $3.47.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.