Dorria Ball Sells 6,812 Shares of Honest (NASDAQ:HNST) Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Dorria Ball sold 6,812 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $4.99, for a total value of $33,991.88. Following the completion of the transaction, the insider directly owned 418,584 shares of the company’s stock, valued at $2,088,734.16. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Stock Up 3.0%

Honest stock traded up $0.15 during mid-day trading on Monday, hitting $5.20. The company had a trading volume of 2,778,794 shares, compared to its average volume of 1,883,129. The Honest Company, Inc. has a 1 year low of $2.07 and a 1 year high of $5.84. The business has a fifty day moving average of $4.09 and a 200 day moving average of $3.37. The stock has a market cap of $572.41 million, a price-to-earnings ratio of -47.27 and a beta of 2.12.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. The business had revenue of $80.19 million during the quarter, compared to the consensus estimate of $77.83 million. Equities analysts anticipate that The Honest Company, Inc. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on HNST. Alliance Global Partners restated a “buy” rating on shares of Honest in a research note on Thursday, August 6th. Weiss Ratings raised Honest from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Northland Securities set a $5.50 price target on Honest in a research report on Thursday, August 6th. Freedom Capital raised Honest from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Telsey Advisory Group lifted their price objective on Honest from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Honest currently has an average rating of “Hold” and an average price target of $4.84.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP acquired a new stake in Honest in the 2nd quarter valued at about $86,000. Bank of America Corp DE acquired a new position in shares of Honest during the 2nd quarter worth approximately $715,000. Canada Pension Plan Investment Board acquired a new position in shares of Honest during the 2nd quarter worth approximately $140,000. Legal & General Group Plc purchased a new stake in Honest in the 2nd quarter valued at approximately $36,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Honest in the 2nd quarter valued at approximately $94,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

About Honest

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.