Honest (NASDAQ:HNST) Insider Dorria Ball Sells 6,899 Shares

The Honest Company, Inc. (NASDAQ:HNST) insider Dorria Ball sold 6,899 shares of Honest stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total value of $21,662.86. Following the completion of the sale, the insider directly owned 425,396 shares in the company, valued at $1,335,743.44. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Trading Up 6.9%

Shares of HNST 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 stock’s 50-day moving average price is $3.12 and its 200-day moving average price is $2.78. The stock has a market capitalization of $375.37 million, a price-to-earnings ratio of -20.06 and a beta of 2.15.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Honest had a positive return on equity of 3.52% and a negative net margin of 5.39%.The firm had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.25 million. As a group, research analysts predict that The Honest Company, Inc. will post 0.1 EPS for the current fiscal year.

Honest announced that its Board of Directors has authorized a stock buyback program on Friday, February 20th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Portolan Capital Management LLC boosted its position in shares of Honest by 11.4% during the third quarter. Portolan Capital Management LLC now owns 6,928,004 shares of the company’s stock valued at $25,495,000 after buying an additional 710,651 shares during the period. Mak Capital One LLC purchased a new position in shares of Honest during the fourth quarter valued at approximately $9,104,000. ArrowMark Colorado Holdings LLC boosted its position in shares of Honest by 5.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,999,546 shares of the company’s stock valued at $11,038,000 after buying an additional 151,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Honest by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,323,572 shares of the company’s stock valued at $5,996,000 after buying an additional 28,579 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Honest by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,259,540 shares of the company’s stock valued at $8,315,000 after buying an additional 171,425 shares during the period. Hedge funds and other institutional investors 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.