Ed Lin

Jessica Alba just sold a large block of stock in Honest Co., a maker of baby, home cleaning, and wellness products that the actress co-founded.

Alba obtained 465,000 Honest shares from options for $2.4 million, an average price of $5.13 each, on Dec. 10. She sold an equal number of shares the same day for $3.5 million, an average price of $7.55 each. According to a form filed with the Securities and Exchange Commission, Alba now owns 1.17 million Honest shares in a personal account, including 60,569 restricted stock units, and another 4.3 million shares through a trust that she and her husband control.

Honest didn't immediately respond to requests for comment from Alba regarding her stock sales.

Honest stock has spiked recently, surging 49% through Wednesday's close of $7.14 from the company's strong third-quarter report on Nov. 12. With that gain, shares have more than doubled in 2024.

Alba most recently sold 795,750 Honest shares for $2.4 million over April 17 through 19, an average price of $3.04 each. Her filing for the transaction noted that Alba sold "solely to cover the associated tax liability upon the vesting of a previously granted award of restricted stock units."

Those April sales followed Alba stepping down as Honest's chief creative officer on April 5, a post she had held since the company's incorporation in July 2011. She's currently a nonemployee director on the company's board, and one of Honest's largest shareholders with a 6.4% stake as of March 25.

Alliance Global Partners analyst Aaron Grey raised the price target on Honest stock to $8 from $5.75, and maintained a Buy rating in a Nov. 13 report. Grey noted that he has "greater confidence in top-line initiatives leading to sustained profitable growth."

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.

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December 12, 2024 12:21 ET (17:21 GMT)

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