Insider Selling: Honest (NASDAQ:HNST) CEO Sells 97,505 Shares of Stock

The Honest Company, Inc. (NASDAQ:HNST) CEO Carla Vernon sold 97,505 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $253,513.00. Following the sale, the chief executive officer owned 2,901,488 shares of the company’s stock, valued at approximately $7,543,868.80. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Honest Price Performance

Shares of NASDAQ:HNST traded down $0.01 during trading on Friday, hitting $2.52. The company’s stock had a trading volume of 3,086,200 shares, compared to its average volume of 3,262,342. The firm has a market cap of $281.71 million, a price-to-earnings ratio of 42.00 and a beta of 2.28. The company has a 50-day moving average of $3.46 and a 200-day moving average of $4.20. The Honest Company, Inc. has a 12 month low of $2.31 and a 12 month high of $8.97.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $99.43 million. Honest had a net margin of 1.85% and a return on equity of 3.86%. Honest has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research downgraded Honest from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Lake Street Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $3.00 price objective on the stock. in a research note on Thursday, November 6th. Telsey Advisory Group cut their price objective on Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. Weiss Ratings lowered shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Morgan Stanley lowered their price target on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Honest has a consensus rating of “Hold” and an average target price of $5.10.

Institutional Trading of Honest

Several institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC lifted its holdings in Honest by 6,101.8% in the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock worth $32,000 after purchasing an additional 6,712 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of 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 valued at $26,000 after buying an additional 6,599 shares during the last quarter. Equity Wealth Partners LLC bought a new stake in shares of Honest during the third quarter valued at approximately $37,000. Strategic Blueprint LLC purchased a new position in shares of Honest in the second quarter worth $52,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Honest during the third quarter worth $39,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

About Honest

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.