Honest (NASDAQ:HNST) Insider Dorria Ball Sells 15,099 Shares

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

Honest Stock Down 4.1%

NASDAQ:HNST opened at $2.81 on Tuesday. The Honest Company, Inc. has a twelve month low of $2.07 and a twelve month high of $5.55. The stock’s 50-day simple moving average is $2.48 and its 200 day simple moving average is $3.03. The firm has a market capitalization of $316.04 million, a PE ratio of -20.07 and a beta of 2.26.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, February 25th. The company reported ($0.21) EPS 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%. On average, analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Honest announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HNST shares. Wall Street Zen lowered shares of Honest from a “hold” rating to a “sell” rating in a research report on Saturday. Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 price target on shares of Honest in a report on Thursday, February 26th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Honest in a report on Thursday, January 22nd. Finally, Zacks Research lowered Honest from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.00.

Key Honest News

Here are the key news stories impacting Honest this week:

• Negative Sentiment: CEO Carla Vernon sold 129,335 shares at an average price of $2.85 (≈ $368,605); she still holds 4,065,546 shares valued at ≈ $11.59M after the sale. SEC filing — Carla Vernon
• Negative Sentiment: SVP Kunssberg Etienne Von sold 12,179 shares at $2.85 (≈ $34,710), trimming his position by ~3.80%. SEC filing — Kunssberg Etienne Von
• Negative Sentiment: General Counsel Brendan Sheehey sold 22,556 shares at $2.85 (≈ $64,285), reducing his holdings by ~3.01%. SEC filing — Brendan Sheehey
• Negative Sentiment: SVP Jonathan Mayle sold 12,725 shares at $2.85 (≈ $36,266), a ~2.72% reduction in his stake. SEC filing — Jonathan Mayle
• Negative Sentiment: Insider Dorria L. Ball sold 15,099 shares at $2.85 (≈ $43,032), trimming her holding by ~3.37%. SEC filing — Dorria L. Ball

Institutional Investors Weigh In On Honest

A number of institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Honest by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock valued at $235,000 after acquiring an additional 3,210 shares during the last quarter. Millennium Management LLC grew its stake in shares of Honest by 16.4% in the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after purchasing an additional 272,765 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Honest by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock valued at $5,002,000 after purchasing an additional 163,380 shares during the period. Ethos Financial Group LLC acquired a new stake in Honest in the second quarter valued at $62,000. Finally, Geode Capital Management LLC raised its position in Honest by 10.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,068,945 shares of the company’s stock worth $10,532,000 after purchasing an additional 196,218 shares during the last quarter. 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.