Honest (NASDAQ:HNST) General Counsel Sells $48,223.36 in Stock

The Honest Company, Inc. (NASDAQ:HNST) General Counsel Brendan Sheehey sold 9,664 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $48,223.36. Following the sale, the general counsel owned 706,224 shares of the company’s stock, valued at $3,524,057.76. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Trading Up 3.8%

Shares of HNST stock opened at $5.72 on Thursday. The business’s 50 day moving average is $4.20 and its two-hundred day moving average is $3.44. The Honest Company, Inc. has a twelve month low of $2.07 and a twelve month high of $5.91. The company has a market capitalization of $629.66 million, a P/E ratio of -52.00 and a beta of 2.12.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $80.19 million for the quarter, compared to analyst estimates of $77.83 million. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. As a group, equities analysts predict that The Honest Company, Inc. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HNST shares. B. Riley Financial lifted their price target on Honest from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Telsey Advisory Group increased their price objective on Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Wall Street Zen raised Honest from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Alliance Global Partners restated a “buy” rating on shares of Honest in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Honest from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Honest has a consensus rating of “Hold” and an average price target of $4.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HNST. Allworth Financial LP acquired a new stake in Honest in the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its position in Honest by 1,392.2% during the third 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 last quarter. Amicus Financial Advisors LLC acquired a new position in Honest during the fourth quarter worth about $29,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Honest in the fourth quarter valued at about $32,000. Finally, Legal & General Group Plc acquired a new stake in shares of Honest in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.