Insider Selling: The Honest Company, Inc. (NASDAQ:HNST) CEO Sells $462,749.60 in Stock

The Honest Company, Inc. (NASDAQ:HNST) CEO Carla Vernon sold 65,176 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $462,749.60. Following the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Honest Stock Performance

NASDAQ:HNST opened at $8.15 on Friday. The Honest Company, Inc. has a 52-week low of $1.83 and a 52-week high of $8.29. The stock has a fifty day moving average of $4.32 and a 200 day moving average of $3.68. The firm has a market capitalization of $822.82 million, a price-to-earnings ratio of -203.75 and a beta of 1.85.

Institutional Trading of Honest

Several institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in shares of Honest in the first quarter worth approximately $27,000. Zacks Investment Management bought a new position in shares of Honest in the 3rd quarter worth $37,000. Creative Planning purchased a new stake in shares of Honest during the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest during the 3rd quarter valued at $40,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Honest during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on HNST shares. Northland Securities lifted their price objective on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. B. Riley raised their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Alliance Global Partners upped their price target on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group increased their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Honest has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

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.