Honest (NASDAQ:HNST) General Counsel Brendan Sheehey Sells 9,784 Shares

The Honest Company, Inc. (NASDAQ:HNST) General Counsel Brendan Sheehey sold 9,784 shares of Honest stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total transaction of $30,721.76. Following the completion of the sale, the general counsel owned 715,888 shares of the company’s stock, valued at $2,247,888.32. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brendan Sheehey also recently made the following trade(s):

• On Thursday, March 5th, Brendan Sheehey sold 22,556 shares of Honest stock. The stock was sold at an average price of $2.85, for a total transaction of $64,284.60.

Honest Stock Up 6.9%

Shares of Honest stock opened at $3.41 on Friday. The Honest Company, Inc. has a twelve month low of $2.07 and a twelve month high of $5.28. The company has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $2.78. The stock has a market capitalization of $375.37 million, a price-to-earnings ratio of -20.06 and a beta of 2.15.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate 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. On average, sell-side analysts anticipate that The Honest Company, Inc. will post 0.1 earnings per share for the current fiscal year.

Honest announced that its Board of Directors has authorized a stock repurchase program on Friday, February 20th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on HNST. Zacks Research upgraded shares of Honest from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen upgraded shares of Honest from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Alliance Global Partners reiterated a “buy” rating on shares of Honest in a research note on Thursday, May 7th. Morgan Stanley set a $3.40 target price on shares of Honest in a research report on Thursday, May 7th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $4.00 target price on shares of Honest in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.47.

Institutional Investors Weigh In On Honest

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Portolan Capital Management LLC grew its holdings in shares of Honest by 11.4% during 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 bought a new stake in shares of Honest during the 3rd quarter valued at approximately $286,000. Wealthfront Advisers LLC bought a new stake in shares of Honest during the 3rd quarter valued at approximately $75,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Honest by 18.7% during 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 bought a new stake in shares of Honest during the 4th quarter valued at approximately $140,000. 45.54% of the stock is owned by institutional investors.

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.