Insider Selling: Honest (NASDAQ:HNST) SVP Sells $34,710.15 in Stock

The Honest Company, Inc. (NASDAQ:HNST) SVP Kunssberg Etienne Von sold 12,179 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $2.85, for a total transaction of $34,710.15. Following the completion of the sale, the senior vice president owned 308,710 shares in the company, valued at approximately $879,823.50. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Honest Price Performance

HNST stock opened at $2.82 on Thursday. The stock has a market cap of $317.18 million, a price-to-earnings ratio of -20.14 and a beta of 2.27. The company has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $3.02. The Honest Company, Inc. has a 1 year low of $2.07 and a 1 year high of $5.55.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, February 25th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). Honest had a negative net margin of 4.22% and a positive return on equity of 4.57%. The company had revenue of $88.04 million during the quarter, compared to analyst estimates of $88.57 million. On average, equities research analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Honest declared that its Board of Directors has initiated a share repurchase program on Friday, February 20th that permits the company to repurchase $25.00 million in 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 an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

HNST has been the topic of several research reports. Zacks Research cut Honest from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Weiss Ratings reiterated 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 issued a $3.00 price target on shares of Honest in a research report on Thursday, February 26th. Morgan Stanley set a $3.00 price target on shares of Honest in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Honest presently has an average rating of “Reduce” and a consensus price target of $3.00.

Institutional Trading of Honest

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in 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 valued at $26,000 after purchasing an additional 6,599 shares during the period. Amicus Financial Advisors LLC acquired a new position in shares of Honest in the 4th quarter worth approximately $29,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Honest in the 4th quarter valued at $32,000. Hibernia Wealth Partners LLC bought a new position in Honest during the fourth quarter worth $32,000. Finally, Equity Wealth Partners LLC acquired a new position in Honest in the third quarter valued at $37,000. 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.