Katherine Barton, Chief Growth Officer of Honest Company , Inc. (NASDAQ:), recently sold 23,884 shares of the company’s common stock. The shares were sold at prices ranging from $7.10 to $7.17, resulting in a total transaction value of $169,576. The sale was part of a pre-approved plan to cover tax liabilities associated with the vesting of Restricted Stock Units (RSUs). Following this transaction, Barton retains ownership of 892,936 shares, which includes 684,598 RSUs payable in an equivalent number of shares.
In other recent news, The Honest Co. has been the subject of several analyst updates following a strong financial performance. Lake Street Capital Markets, Loop Capital, and Telsey Advisory Group all increased their price targets for the company. Lake Street and Loop Capital maintained a Buy rating, while Telsey Advisory Group held to a Market Perform rating.
The Honest Co. reported a record third-quarter revenue of $99 million, marking a 15% increase year-over-year, and an expanded gross margin of 39%. Adjusted EBITDA for the quarter was $7 million, marking the fourth consecutive quarter of positive results. The company’s CEO, Carla Vernon, and CFO, Dave Loretta, revealed an optimistic full-year guidance with expectations for revenue growth in the high single-digit percentage range and adjusted EBITDA between $20 million and $22 million.
Despite a non-recurring legal expense of $4.1 million, with an expected additional $4 million to $5 million in the upcoming quarter, The Honest Co. projects revenue growth in the high single-digit percentage range for the full year and anticipates an annual gross margin between 37% and 38%. The company ended the quarter in a robust financial position with $53 million in cash and no debt.
These recent developments reflect the company’s consistent performance and positive earnings reports over the past several quarters. The Honest Co. has reported a sixth consecutive quarter of adjusted EBITDA that surpassed expectations, including four quarters of positive adjusted EBITDA. The company’s operational momentum is gaining traction, as evidenced by its recent financial outcomes.
InvestingPro Insights
The recent stock sale by Honest Company’s Chief Growth Officer comes at a time when the company’s stock has shown remarkable performance. According to InvestingPro data, HNST has experienced a significant 355.97% price total return over the past year, with a particularly strong 94.37% return in the last month…
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