253,100 Shares in The Honest Company, Inc. (NASDAQ:HNST) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 253,100 shares of the company's stock, valued at approximately $1,754,000. Canada Pension Plan Investment Board owned about 0.25% of Honest as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HNST. Vanguard Group Inc. boosted its holdings 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 last quarter. Renaissance Technologies LLC grew its position in shares of Honest by 20.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock worth $16,439,000 after buying an additional 398,603 shares during the period. Geode Capital Management LLC raised its stake in shares of Honest by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock worth $12,658,000 after buying an additional 14,539 shares during the last quarter. Victory Capital Management Inc. lifted 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 period. Finally, JPMorgan Chase & Co. boosted its stake in Honest by 56.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,209,529 shares of the company's stock valued at $8,382,000 after acquiring an additional 435,723 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company's stock.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 price target on shares of Honest in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Honest has an average rating of "Moderate Buy" and a consensus target price of $7.70.

Honest Stock Performance

NASDAQ:HNST traded down $0.01 during trading hours on Tuesday, hitting $4.78. The stock had a trading volume of 214,343 shares, compared to its average volume of 2,154,280. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The company has a market cap of $526.46 million, a price-to-earnings ratio of -119.63 and a beta of 2.44. The business's 50 day moving average is $4.85 and its 200-day moving average is $5.70.

Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. On average, sell-side analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

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

Honest 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.