S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Brendan Sheehey, General Counsel of Honest Company , Inc. (NASDAQ:HNST), recently sold 24,873 shares of the company’s common stock. The shares were sold at a price of $4.91 each, totaling $122,126. The transaction comes as HNST, currently valued at $512 million, trades near its InvestingPro Fair Value, with notably strong liquidity metrics and more cash than debt on its balance sheet. Following this transaction, Sheehey retains ownership of 592,664 shares, which includes 345,927 Restricted Stock Units (RSUs) that are convertible into an equivalent number of common shares.
The sale was conducted under an approved sell-to-cover plan by the Compensation Committee for all executive officers, aimed at covering the tax liabilities associated with the vesting of previously granted RSUs.
In other recent news, The Honest Company reported strong financial results for the fourth quarter and full year of 2024. The company achieved a notable revenue increase, with Q4 revenue reaching $99.84 million, surpassing the forecasted $96.34 million. Earnings per share (EPS) also exceeded expectations, coming in at -$0.01 compared to the anticipated -$0.02. For the full year, Honest Company saw a 10% rise in revenue, totaling $378 million, and achieved its first full year of positive Adjusted EBITDA at $26 million. Despite these positive results, the stock experienced a decline in aftermarket trading, which might be influenced by broader market conditions. Looking ahead, Honest Company projects revenue growth between 4-6% for 2025, with expectations for Adjusted EBITDA to be in the range of $27-30 million. The company is planning new product launches and expanded distribution channels to drive growth in the coming year. Additionally, Honest Company is transitioning away from its direct-to-consumer sales model, focusing instead on retail and digital partners for greater efficiency.
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