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 stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total value of $374,881.46. Following the completion of the transaction, the chief executive officer owned 3,946,451 shares of the company’s stock, valued at $12,391,856.14. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 value of $368,604.75.

Honest Stock Performance

Shares of HNST traded up $0.22 during mid-day trading on Friday, reaching $3.41. 1,777,147 shares of the company were exchanged, compared to its average volume of 1,839,630. The Honest Company, Inc. has a 52 week low of $2.07 and a 52 week high of $5.28. The stock has a market capitalization of $375.37 million, a PE ratio of -20.06 and a beta of 2.15. The business has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $2.78.

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

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HNST shares. Weiss Ratings restated a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Honest in a research report on Thursday, May 7th. Zacks Research upgraded Honest from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen upgraded Honest from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Alliance Global Partners restated a “buy” rating on shares of Honest in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Honest presently has an average rating of “Hold” and a consensus price target of $3.47.

Institutional Investors Weigh In On Honest

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in Honest by 1,392.2% in the third 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 in the last quarter. Equity Wealth Partners LLC bought a new stake in Honest in the third quarter worth approximately $37,000. CIBC Bancorp USA Inc. bought a new stake in Honest in the third quarter worth approximately $39,000. Amicus Financial Advisors LLC bought a new stake in Honest in the fourth quarter worth approximately $29,000. Finally, State of Wyoming bought a new stake in Honest in the second quarter worth approximately $61,000. 45.54% of the stock is currently owned by institutional investors.

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.