Carla Vernon Purchases 50,000 Shares of The Honest Company, Inc. (NASDAQ:HNST) Stock

The Honest Company, Inc. (NASDAQ:HNST) CEO Carla Vernon bought 50,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $1.21 per share, with a total value of $60,500.00. Following the acquisition, the chief executive officer now directly owns 1,945,238 shares of the company’s stock, valued at $2,353,737.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Honest Trading Down 11.0 %

Shares of HNST stock opened at $1.21 on Friday. The Honest Company, Inc. has a twelve month low of $1.09 and a twelve month high of $4.06. The company’s 50-day moving average price is $1.49 and its 200-day moving average price is $1.72. The stock has a market cap of $113.05 million, a price-to-earnings ratio of -1.98 and a beta of 0.44.

Honest (NASDAQ:HNST) last posted its earnings results on Tuesday, August 8th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $84.54 million for the quarter, compared to analyst estimates of $80.28 million. Honest had a negative net margin of 16.95% and a negative return on equity of 35.55%. Honest’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) EPS. As a group, equities research analysts predict that The Honest Company, Inc. will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Portolan Capital Management LLC raised its position in Honest by 160.7% in the fourth quarter. Portolan Capital Management LLC now owns 3,109,760 shares of the company’s stock valued at $9,360,000 after purchasing an additional 1,916,966 shares during the period. Renaissance Technologies LLC raised its holdings in Honest by 386.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,759,900 shares of the company’s stock valued at $5,139,000 after buying an additional 1,397,880 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Honest by 34.9% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 2,746,206 shares of the company’s stock valued at $4,614,000 after buying an additional 711,206 shares during the period. Dimensional Fund Advisors LP lifted its position in Honest by 272.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 966,266 shares of the company’s stock valued at $2,908,000 after buying an additional 706,730 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Honest by 88.5% during the second quarter. Marshall Wace LLP now owns 1,278,575 shares of the company’s stock worth $2,148,000 after buying an additional 600,161 shares during the period. 37.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.