Dorria Ball Sells 6,899 Shares of Honest (NASDAQ:HNST) Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Dorria Ball sold 6,899 shares of Honest stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total value of $21,662.86. Following the sale, the insider directly owned 425,396 shares in the company, valued at $1,335,743.44. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Price Performance

Shares of Honest stock opened at $3.41 on Friday. The business’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $2.78. The company has a market capitalization of $375.37 million, a P/E ratio of -20.06 and a beta of 2.15. The Honest Company, Inc. has a 1-year low of $2.07 and a 1-year high of $5.28.

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

Honest announced that its board has approved a share buyback program on Friday, February 20th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Honest

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Honest by 1,392.2% in the 3rd 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. Equity Wealth Partners LLC acquired a new position in shares of Honest in the 3rd quarter worth $37,000. CIBC Bancorp USA Inc. acquired a new position in shares of Honest in the 3rd quarter worth $39,000. Amicus Financial Advisors LLC acquired a new position in shares of Honest in the 4th quarter worth $29,000. Finally, State of Wyoming acquired a new position in shares of Honest in the 2nd quarter worth $61,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.