Insider Selling: The Honest Company, Inc. (NASDAQ:HNST) Insider Sells 20,000 Shares of Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the sale, the insider now directly owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. This represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Honest Trading Up 5.2 %

HNST stock opened at $5.09 on Monday. The stock has a 50-day moving average price of $5.90 and a two-hundred day moving average price of $5.52. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97. The company has a market cap of $554.35 million, a PE ratio of -127.25 and a beta of 2.45.

Honest (NASDAQ:HNST) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million during the quarter, compared to the consensus estimate of $96.46 million. Equities analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently modified their holdings of the stock. Valmark Advisers Inc. grew its stake in shares of Honest by 1.7% in the fourth quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock valued at $1,130,000 after buying an additional 2,735 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Honest by 6.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company’s stock valued at $324,000 after buying an additional 2,761 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Honest in the fourth quarter valued at about $26,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after buying an additional 5,330 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Honest by 30.1% in the fourth quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock valued at $184,000 after buying an additional 6,146 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HNST shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price objective on shares of Honest in a research report on Thursday, February 27th. Northland Securities lifted their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.42.

Honest Company Profile

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.