Honest (NASDAQ:HNST) Insider Stephen Winchell Sells 12,886 Shares of Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Stephen Winchell sold 12,886 shares of Honest stock in a transaction on 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 sale, the insider directly owned 483,293 shares of the company’s stock, valued at $1,517,540.02. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Stock Up 6.9%

Shares of Honest stock opened at $3.41 on Friday. The Honest Company, Inc. has a 12 month low of $2.07 and a 12 month high of $5.28. The business has a fifty day simple moving average of $3.12 and a 200 day simple moving average of $2.78. The stock has a market cap of $375.37 million, a PE ratio of -20.06 and a beta of 2.15.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, hitting 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. Analysts expect that The Honest Company, Inc. will post 0.1 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages recently commented on HNST. Morgan Stanley set a $3.40 price objective on Honest in a research note on Thursday, May 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 target price on shares of Honest in a research note on Thursday, May 7th. Zacks Research raised Honest from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Alliance Global Partners reissued a “buy” rating on shares of Honest in a research note on Thursday, May 7th. Finally, Wall Street Zen raised Honest from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its stake in Honest by 1,392.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after acquiring an additional 6,599 shares during the period. Amicus Financial Advisors LLC acquired a new position 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 valued at about $32,000. Hibernia Wealth Partners LLC bought a new stake in shares of Honest in the fourth quarter valued at about $32,000. Finally, Equity Wealth Partners LLC bought a new stake in shares of Honest in the third quarter valued at about $37,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.