Insider Selling: The Honest Company, Inc. (NASDAQ:HNST) CFO Sells 6,801 Shares of Stock

The Honest Company, Inc. (NASDAQ:HNST – Get Rating) CFO Kelly J. Kennedy sold 6,801 shares of Honest stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $1.58, for a total value of $10,745.58. Following the transaction, the chief financial officer now owns 970,923 shares in the company, valued at approximately $1,534,058.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Honest Stock Down 0.7 %

Shares of HNST stock opened at $1.49 on Friday. The company has a 50-day moving average of $1.75 and a two-hundred day moving average of $2.54. The Honest Company, Inc. has a 1-year low of $1.44 and a 1-year high of $4.52.

Honest (NASDAQ:HNST – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Honest had a negative return on equity of 31.18% and a negative net margin of 16.22%. The firm had revenue of $81.86 million for the quarter, compared to analyst estimates of $80.23 million. As a group, analysts expect that The Honest Company, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Honest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank increased its stake in Honest by 8.4% during the first quarter. Swiss National Bank now owns 64,600 shares of the company’s stock worth $337,000 after purchasing an additional 5,000 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Honest by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 216,124 shares of the company’s stock worth $1,126,000 after acquiring an additional 7,901 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Honest by 55.4% during the first quarter. MetLife Investment Management LLC now owns 51,808 shares of the company’s stock worth $270,000 after acquiring an additional 18,473 shares during the period. Rhumbline Advisers boosted its holdings in Honest by 20.4% in the first quarter. Rhumbline Advisers now owns 88,687 shares of the company’s stock valued at $462,000 after purchasing an additional 15,023 shares during the period. Finally, Federated Hermes Inc. grew its stake in Honest by 82.6% during the 1st quarter. Federated Hermes Inc. now owns 12,361 shares of the company’s stock worth $64,000 after purchasing an additional 5,590 shares in the last quarter. 41.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HNST has been the subject of several analyst reports. Loop Capital dropped their price target on shares of Honest from $3.00 to $2.00 in a research note on Friday, March 17th. Telsey Advisory Group lowered Honest from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $6.00 to $2.00 in a research report on Friday, March 17th.

About Honest

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The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.