Inspire Investing LLC Acquires New Holdings in The Honest Company, Inc. $HNST

Key Points

• Inspire Investing LLC has acquired 72,476 shares of The Honest Company, valued at approximately $341,000, as part of its new stake in the company.
• The Honest Company reported earnings of $0.03 per share, missing expectations of $0.05, while achieving revenues of $93.46 million for the quarter.
• Analysts have a mixed outlook on Honest, with several reducing price targets, yet three still maintaining a Buy rating on the stock.

Inspire Investing LLC acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 72,476 shares of the company's stock, valued at approximately $341,000. Inspire Investing LLC owned 0.07% of Honest at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Honest by 11,727.8% during the 1st quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock worth $200,000 after acquiring an additional 4,222 shares during the period. Summit Securities Group LLC lifted its holdings in shares of Honest by 6,101.8% during the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock worth $32,000 after acquiring an additional 6,712 shares during the period. DRW Securities LLC purchased a new position in shares of Honest during the 1st quarter worth about $58,000. Aigen Investment Management LP purchased a new position in shares of Honest during the 1st quarter worth about $64,000. Finally, Captrust Financial Advisors purchased a new position in Honest in the fourth quarter valued at approximately $110,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Honest news, insider Stephen Winchell sold 10,841 shares of Honest stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total value of $39,569.65. Following the completion of the transaction, the insider owned 410,257 shares of the company's stock, valued at $1,497,438.05. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Brendan Sheehey sold 12,059 shares of Honest stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $44,015.35. Following the completion of the transaction, the general counsel directly owned 568,588 shares of the company's stock, valued at approximately $2,075,346.20. This represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,890 shares of company stock valued at $481,399 over the last 90 days. 8.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Honest from $5.50 to $4.25 and set an "equal weight" rating on the stock in a report on Friday, August 15th. Telsey Advisory Group cut their price target on shares of Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Finally, Zacks Research lowered shares of Honest from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $6.96.

Honest Price Performance

Shares of NASDAQ:HNST traded down $0.13 during midday trading on Friday, reaching $3.92. The company had a trading volume of 5,351,144 shares, compared to its average volume of 3,032,700. The stock's fifty day moving average price is $4.18 and its 200-day moving average price is $4.60. The stock has a market capitalization of $436.18 million, a P/E ratio of 78.42 and a beta of 2.33. The Honest Company, Inc. has a one year low of $3.32 and a one year high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The company had revenue of $93.46 million during the quarter, compared to the consensus estimate of $92.18 million. Honest had a return on equity of 3.84% and a net margin of 1.66%. As a group, sell-side analysts forecast 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.