Insider Selling: The Honest Company, Inc. (NASDAQ:HNST) Insider Sells $99,600.00 in Stock

The Honest Company, Inc. (NASDAQ:HNST) insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction that occurred 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 transaction, the insider now owns 431,844 shares in the company, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Honest Price Performance

HNST opened at $5.09 on Monday. The business has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $5.52. The stock has a market capitalization of $554.35 million, a P/E ratio of -127.25 and a beta of 2.45. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97.

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

Hedge Funds Weigh In On Honest

Several hedge funds and other institutional investors have recently bought and sold shares of HNST. D. E. Shaw & Co. Inc. raised its holdings in Honest by 589.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock worth $16,616,000 after purchasing an additional 2,049,981 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Honest by 869.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after acquiring an additional 1,386,961 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Honest by 25.7% in the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after acquiring an additional 1,052,305 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Honest by 103.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company’s stock worth $14,185,000 after acquiring an additional 1,041,040 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Honest by 1,504.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after acquiring an additional 798,384 shares during the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HNST. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Finally, Northland Securities raised their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.42.

About Honest

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.