The Honest Company, Inc. (NASDAQ:HNST) Major Shareholder Shared Abacus Lp Thc Sells 2,300,000 Shares

The Honest Company, Inc. (NASDAQ:HNST) major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Honest Stock Down 0.8 %

Shares of HNST opened at $3.70 on Friday. The firm has a market cap of $364.96 million, a PE ratio of -16.09 and a beta of 1.90. The company’s fifty day moving average is $3.92 and its two-hundred day moving average is $3.45. The Honest Company, Inc. has a fifty-two week low of $1.06 and a fifty-two week high of $4.89.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $93.05 million for the quarter, compared to analyst estimates of $87.63 million. Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. During the same quarter last year, the business earned ($0.14) EPS. As a group, equities research analysts anticipate that The Honest Company, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HNST has been the subject of several recent analyst reports. Loop Capital raised shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Tuesday, June 25th. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on shares of Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 target price for the company. Finally, B. Riley initiated coverage on shares of Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price for the company. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.04.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in shares of Honest during the 1st quarter valued at $27,000. Panagora Asset Management Inc. acquired a new position in shares of Honest during the 2nd quarter valued at $43,000. Lazard Asset Management LLC acquired a new position in shares of Honest during the 1st quarter valued at $52,000. SG Americas Securities LLC acquired a new position in shares of Honest during the 1st quarter valued at $93,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Honest during the 2nd quarter valued at $94,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.