Honest (NASDAQ:HNST) Insider Sells $40,462.04 in Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Stephen Winchell sold 12,886 shares of Honest stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total value of $40,462.04. Following the completion of the transaction, the insider directly owned 483,293 shares of the company’s stock, valued at $1,517,540.02. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Trading Up 6.9%

Shares of Honest stock traded up $0.22 during trading 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 stock has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $2.78. The Honest Company, Inc. has a one year low of $2.07 and a one year high of $5.28. The stock has a market capitalization of $375.37 million, a P/E ratio of -20.06 and a beta of 2.15.

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

Honest declared that its board has initiated a share buyback plan on Friday, February 20th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Honest

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNST. Caitong International Asset Management Co. Ltd raised its holdings in Honest by 1,392.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after purchasing an additional 6,599 shares during the last quarter. Amicus Financial Advisors LLC bought a new stake in shares of Honest during the 4th quarter valued at $29,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Honest during the 4th quarter valued at $32,000. Hibernia Wealth Partners LLC bought a new stake in shares of Honest during the 4th quarter valued at $32,000. Finally, Equity Wealth Partners LLC bought a new stake in shares of Honest during the 3rd quarter valued at $37,000. 45.54% of the stock is owned by 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.