Honest (NASDAQ:HNST) Insider Sells $43,032.15 in Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Dorria Ball sold 15,099 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $2.85, for a total transaction of $43,032.15. Following the sale, the insider owned 432,295 shares of the company’s stock, valued at $1,232,040.75. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Honest Stock Performance

Shares of NASDAQ:HNST traded down $0.12 during midday trading on Monday, hitting $2.81. The company’s stock had a trading volume of 2,349,221 shares, compared to its average volume of 2,034,835. The stock’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $3.04. The stock has a market capitalization of $316.05 million, a price-to-earnings ratio of -20.07 and a beta of 2.27. The Honest Company, Inc. has a fifty-two week low of $2.07 and a fifty-two week high of $5.55.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.23). The business had revenue of $88.04 million for the quarter, compared to analyst estimates of $88.57 million. Honest had a positive return on equity of 4.57% and a negative net margin of 4.22%. As a group, analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 target price on shares of Honest in a research report on Thursday, February 26th. Morgan Stanley set a $3.00 price target on shares of Honest in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Zacks Research lowered shares of Honest from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a research note on Friday, January 16th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Honest currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Hedge Funds Weigh In On Honest

A number of hedge funds have recently made changes to their positions in HNST. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 acquiring an additional 6,599 shares during the period. Amicus Financial Advisors LLC bought a new stake in Honest in the fourth quarter valued at about $29,000. Wealthcare Advisory Partners LLC acquired a new position in Honest in the fourth quarter worth about $32,000. Hibernia Wealth Partners LLC acquired a new position in Honest in the fourth quarter worth about $32,000. Finally, Equity Wealth Partners LLC bought a new position in Honest during the third quarter worth about $37,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.