Carla Vernon Sells 119,389 Shares of Honest (NASDAQ:HNST) Stock

The Honest Company, Inc. (NASDAQ:HNST) CEO Carla Vernon sold 119,389 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total transaction of $374,881.46. Following the completion of the sale, the chief executive officer owned 3,946,451 shares of the company’s stock, valued at approximately $12,391,856.14. This represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carla Vernon also recently made the following trade(s):

• On Thursday, March 5th, Carla Vernon sold 129,335 shares of Honest stock. The shares were sold at an average price of $2.85, for a total transaction of $368,604.75.

Honest Stock Up 6.9%

HNST 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 company 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 P/E ratio of -20.06 and a beta of 2.15.

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

Honest declared that its board has initiated a share buyback program on Friday, February 20th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Honest

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 6,599 shares during the last quarter. Amicus Financial Advisors LLC acquired a new position in shares of Honest during the 4th quarter worth about $29,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Honest during the 4th quarter worth about $32,000. Hibernia Wealth Partners LLC acquired a new position in shares of Honest during the 4th quarter worth about $32,000. Finally, Equity Wealth Partners LLC acquired a new position in shares of Honest during the 3rd quarter worth about $37,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HNST has been the subject of a number of research reports. Zacks Research upgraded Honest from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Alliance Global Partners reiterated a “buy” rating on shares of Honest in a report on Thursday, May 7th. Wall Street Zen upgraded Honest from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 target price on shares of Honest in a report on Thursday, May 7th. Finally, Morgan Stanley set a $3.40 target price on Honest in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.47.

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.