The Honest Company, Inc. $HNST Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in The Honest Company by 33.2%, now owning 0.21% of the company's shares worth approximately $1,093,000.
• Insider trades include General Counsel Brendan Sheehey and CEO Carla Vernon selling shares, resulting in a 2.08% and 3.21% decrease in their ownership respectively.
• The Honest Company reported $0.03 earnings per share, missing estimates, and has an average target price of $6.96 from analysts, who generally rate the stock as a "Moderate Buy."

Charles Schwab Investment Management Inc. reduced its stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,466 shares of the company's stock after selling 115,667 shares during the period. Charles Schwab Investment Management Inc. owned 0.21% of Honest worth $1,093,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Honest by 11,727.8% in the first quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock valued at $200,000 after acquiring an additional 4,222 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Honest in the fourth quarter valued at approximately $110,000. Bailard Inc. purchased a new stake in Honest in the first quarter valued at approximately $78,000. Wealth Enhancement Advisory Services LLC raised its position in 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 purchasing an additional 6,513 shares during the period. Finally, Cerity Partners LLC purchased a new stake in Honest in the first quarter valued at approximately $90,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Brendan Sheehey sold 12,059 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $44,015.35. Following the transaction, the general counsel owned 568,588 shares of the company's stock, valued at $2,075,346.20. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carla Vernon sold 99,328 shares of Honest stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total transaction of $362,547.20. Following the sale, the chief executive officer owned 2,998,993 shares of the company's stock, valued at approximately $10,946,324.45. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,890 shares of company stock valued at $481,399 over the last quarter. 8.90% of the stock is currently owned by insiders.

Honest Stock Performance

Honest stock opened at $3.96 on Tuesday. The Honest Company, Inc. has a twelve month low of $3.32 and a twelve month high of $8.97. The stock's fifty day simple moving average is $4.46 and its 200-day simple moving average is $4.76. The firm has a market capitalization of $440.63 million, a P/E ratio of 79.22 and a beta of 2.33.

Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.18 million. Honest had a net margin of 1.66% and a return on equity of 3.84%. Sell-side analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Telsey Advisory Group cut their target price on Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley cut their target price on Honest from $5.50 to $4.25 and set an "equal weight" rating on the stock in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.96.

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.

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