Nia Impact Advisors LLC Makes New $1.91 Million Investment in The Honest Company, Inc. (NASDAQ:HNST)

Nia Impact Advisors LLC purchased a new position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 276,222 shares of the company's stock, valued at approximately $1,914,000. Nia Impact Advisors LLC owned about 0.27% of Honest at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HNST. D. E. Shaw & Co. Inc. raised its position in Honest by 589.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock valued at $16,616,000 after purchasing an additional 2,049,981 shares during the period. Victory Capital Management Inc. increased its holdings in Honest by 869.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company's stock valued at $10,716,000 after buying an additional 1,386,961 shares during the last quarter. Vanguard Group Inc. boosted its stake in Honest by 25.7% in the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock valued at $35,671,000 after acquiring an additional 1,052,305 shares during the period. Nuveen Asset Management LLC boosted its stake in Honest by 103.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock valued at $14,185,000 after acquiring an additional 1,041,040 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Honest by 2,035.9% during the fourth quarter. Invesco Ltd. now owns 779,998 shares of the company's stock worth $5,405,000 after buying an additional 743,479 shares during the period. Hedge funds and other institutional investors own 45.54% of the company's stock.

Insider Buying and Selling at Honest

In other Honest news, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares of the company's stock, valued at approximately $2,150,583.12. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Mayle sold 37,481 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the sale, the senior vice president now directly owns 307,740 shares of the company's stock, valued at approximately $1,498,693.80. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $7.00 target price on shares of Honest in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Honest has an average rating of "Moderate Buy" and an average price target of $7.70.

Honest Stock Down 1.0%

Shares of HNST stock traded down $0.06 during trading hours on Monday, reaching $5.46. The company's stock had a trading volume of 1,133,298 shares, compared to its average volume of 2,285,187. The company has a market capitalization of $601.34 million, a price-to-earnings ratio of -136.38 and a beta of 2.43. The firm's 50 day simple moving average is $4.76 and its 200-day simple moving average is $5.81. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $97.25 million during the quarter, compared to the consensus estimate of $92.46 million. Sell-side analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

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.