Honest (NASDAQ:HNST) CFO Curtiss James Bruce III Sells 12,669 Shares

The Honest Company, Inc. (NASDAQ:HNST) CFO Curtiss James Bruce III sold 12,669 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total value of $39,780.66. Following the sale, the chief financial officer owned 526,157 shares of the company’s stock, valued at approximately $1,652,132.98. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Trading Up 6.9%

Shares of NASDAQ:HNST traded up $0.22 during trading on Friday, reaching $3.41. 1,777,147 shares of the stock were exchanged, compared to its average volume of 1,839,630. The Honest Company, Inc. has a 12 month low of $2.07 and a 12 month high of $5.28. The firm has a market cap of $375.37 million, a PE ratio of -20.06 and a beta of 2.15. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price 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 analysts’ expectations of $76.25 million. On average, sell-side analysts expect that The Honest Company, Inc. will post 0.1 earnings per share for the current fiscal year.

Honest announced that its Board of Directors has initiated a share repurchase program on Friday, February 20th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Honest

Several institutional investors have recently made changes to their positions in HNST. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 valued at $26,000 after buying an additional 6,599 shares during the period. Amicus Financial Advisors LLC bought a new stake in Honest during the fourth quarter worth about $29,000. Wealthcare Advisory Partners LLC bought a new stake in Honest during the fourth quarter worth about $32,000. Hibernia Wealth Partners LLC bought a new stake in Honest during the fourth quarter worth about $32,000. Finally, Equity Wealth Partners LLC bought a new stake in Honest during the third quarter worth about $37,000. 45.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HNST. Zacks Research raised shares of Honest from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Alliance Global Partners reissued a “buy” rating on shares of Honest in a research report on Thursday, May 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 target price on shares of Honest in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Finally, Morgan Stanley set a $3.40 target price on shares of Honest in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.47.

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.