Honest (NASDAQ:HNST) General Counsel Brendan Sheehey Sells 9,784 Shares

The Honest Company, Inc. (NASDAQ:HNST) General Counsel Brendan Sheehey sold 9,784 shares of the firm’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 $30,721.76. Following the transaction, the general counsel directly owned 715,888 shares of the company’s stock, valued at $2,247,888.32. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brendan Sheehey also recently made the following trade(s):

• On Thursday, March 5th, Brendan Sheehey sold 22,556 shares of Honest stock. The shares were sold at an average price of $2.85, for a total value of $64,284.60.

Honest Stock Up 6.9%

NASDAQ HNST traded up $0.22 during trading on Friday, hitting $3.41. 1,777,147 shares of the stock traded hands, compared to its average volume of 1,839,630. The company has a market capitalization of $375.37 million, a P/E ratio of -20.06 and a beta of 2.15. The firm has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $2.78. The Honest Company, Inc. has a 12-month low of $2.07 and a 12-month high of $5.28.

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

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $3.40 price objective on shares of Honest in a research 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. Zacks Research upgraded Honest from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 target price on shares of Honest in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Honest in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Honest currently has a consensus rating of “Hold” and a consensus price target of $3.47.

Institutional Investors Weigh In On Honest

Several hedge funds have recently modified their holdings of HNST. Caitong International Asset Management Co. Ltd lifted 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 purchasing an additional 6,599 shares during the last quarter. Amicus Financial Advisors LLC purchased a new stake in shares of Honest during the 4th quarter worth $29,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Honest during the 4th quarter worth $32,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Honest during the 4th quarter worth $32,000. Finally, Equity Wealth Partners LLC purchased a new stake in shares of Honest during the 3rd quarter worth $37,000. Hedge funds and other institutional investors 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.