The Honest Company, Inc. (NASDAQ:HNST) CEO Purchases $60,500.00 in Stock

The Honest Company, Inc. (NASDAQ:HNST) CEO Carla Vernon purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of $1.21 per share, with a total value of $60,500.00. Following the completion of the purchase, the chief executive officer now owns 1,945,238 shares in the company, valued at approximately $2,353,737.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Honest Stock Performance

Honest stock opened at $1.21 on Monday. The company has a market capitalization of $113.05 million, a PE ratio of -1.98 and a beta of 0.44. The company has a 50 day moving average price of $1.49 and a 200-day moving average price of $1.71. The Honest Company, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $4.06.

Honest (NASDAQ:HNST) last issued its earnings results on Tuesday, August 8th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $84.54 million during the quarter, compared to analysts’ expectations of $80.28 million. Honest had a negative return on equity of 35.55% and a negative net margin of 16.95%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. On average, analysts forecast that The Honest Company, Inc. will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Honest

Several large investors have recently modified their holdings of the business. Institutional Venture Management XIII LLC boosted its stake in shares of Honest by 0.5% during the second quarter. Institutional Venture Management XIII LLC now owns 10,474,637 shares of the company’s stock valued at $17,597,000 after purchasing an additional 56,978 shares in the last quarter. Portolan Capital Management LLC boosted its position in Honest by 25.1% during the 2nd quarter. Portolan Capital Management LLC now owns 5,825,650 shares of the company’s stock valued at $9,787,000 after acquiring an additional 1,169,952 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Honest by 6.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,585,938 shares of the company’s stock worth $2,664,000 after acquiring an additional 100,362 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Honest during the 2nd quarter worth $58,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Honest during the first quarter valued at about $139,000. Institutional investors own 37.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley dropped their target price on Honest from $2.00 to $1.85 and set an “equal weight” rating for the company in a research report on Wednesday, August 9th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Honest in a research report on Wednesday, September 6th.

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.