The Honest Company, Inc. (NASDAQ:HNST) Shares Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp increased its ownership in The Honest Company, Inc. by 138.2%, acquiring a total of 899,726 shares worth approximately $4.23 million.
• The Honest Company reported quarterly earnings of $0.03 per share, surpassing analyst expectations, and generated $97.25 million in revenue during the quarter.
• Recent insider trading activities included sales by CEO Carla Vernon and CFO David Loretta, with a total of 165,726 shares sold over the last three months.

Bank of New York Mellon Corp boosted its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 138.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 899,726 shares of the company's stock after acquiring an additional 522,002 shares during the period. Bank of New York Mellon Corp owned 0.82% of Honest worth $4,229,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Honest by 57.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company's stock valued at $83,000 after buying an additional 6,513 shares during the period. Utah Retirement Systems bought a new stake in shares of Honest in the 4th quarter valued at about $86,000. Fox Run Management L.L.C. bought a new position in Honest during the 4th quarter valued at approximately $89,000. Walleye Trading LLC purchased a new position in shares of Honest during the 4th quarter worth approximately $109,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Honest in the 4th quarter worth approximately $110,000. Institutional investors own 45.54% of the company's stock.

Insider Buying and Selling

In other Honest news, General Counsel Brendan Sheehey sold 12,017 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $63,930.44. Following the completion of the transaction, the general counsel owned 580,647 shares in the company, valued at $3,089,042.04. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Loretta sold 34,389 shares of Honest stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $182,949.48. Following the sale, the chief financial officer directly owned 883,153 shares of the company's stock, valued at approximately $4,698,373.96. This trade represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,726 shares of company stock worth $881,662 in the last 90 days. Corporate insiders own 8.90% of the company's stock.

Honest Trading Down 1.3%

Shares of NASDAQ:HNST traded down $0.07 during trading on Tuesday, reaching $4.78. The stock had a trading volume of 884,369 shares, compared to its average volume of 2,587,998. The firm's 50-day simple moving average is $4.84 and its 200 day simple moving average is $5.13. The company has a market capitalization of $526.40 million, a P/E ratio of -238.75 and a beta of 2.35. The Honest Company, Inc. has a one year low of $2.99 and a one year high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. The company had revenue of $97.25 million for the quarter, compared to the consensus estimate of $92.46 million. Equities research analysts forecast that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price target on shares of Honest in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.70.

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.