Brendan Sheehey Sells 9,664 Shares of Honest (NASDAQ:HNST) Stock

Key Points

• Honest General Counsel Brendan Sheehey sold 9,664 shares at an average price of $4.99, generating $48,223.36. The Rule 10b5-1 plan transaction reduced his ownership by 1.35% to 706,224 shares.
• Honest shares recently traded at $5.20, near their one-year high of $5.84, while the company’s latest quarterly results exceeded expectations with $0.04 in EPS and $80.19 million in revenue.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $4.84; institutional investors and hedge funds own 45.54% of the company.

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) General Counsel Brendan Sheehey sold 9,664 shares of Honest stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $4.99, for a total transaction of $48,223.36. Following the transaction, the general counsel owned 706,224 shares of the company's stock, valued at $3,524,057.76. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Honest Stock Performance

Shares of HNST stock traded up $0.15 during trading hours on Monday, reaching $5.20. The company had a trading volume of 2,778,794 shares, compared to its average volume of 1,883,129. The firm has a market cap of $572.41 million, a PE ratio of -47.27 and a beta of 2.12. The business has a fifty day moving average price of $4.09 and a 200-day moving average price of $3.37. The Honest Company, Inc. has a one year low of $2.07 and a one year high of $5.84.

Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%.The firm had revenue of $80.19 million for the quarter, compared to the consensus estimate of $77.83 million. Equities research analysts forecast that The Honest Company, Inc. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HNST shares. Freedom Capital upgraded Honest from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Honest from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Telsey Advisory Group lifted their price objective on shares of Honest from $4.00 to $5.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Honest from $3.40 to $5.70 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th. Finally, Northland Securities set a $5.50 target price on shares of Honest in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Honest has a consensus rating of "Hold" and an average target price of $4.84.

Hedge Funds Weigh In On Honest

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Honest in the second quarter valued at $25,662,000. Mak Capital One LLC purchased a new position in shares of Honest during the 4th quarter valued at approximately $9,104,000. Geode Capital Management LLC grew its stake in Honest by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,323,572 shares of the company's stock valued at $5,996,000 after acquiring an additional 28,579 shares during the period. Dimensional Fund Advisors LP grew its stake in Honest by 8.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,259,540 shares of the company's stock valued at $8,315,000 after acquiring an additional 171,425 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in Honest by 796.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,006,646 shares of the company's stock worth $5,177,000 after acquiring an additional 1,782,742 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company's stock.

About Honest

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.

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