Inspire Investing LLC Makes New $341,000 Investment 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 bought a new stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 quarter.

A number of other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Honest by 6.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company's stock valued at $324,000 after purchasing an additional 2,761 shares during the period. Rhumbline Advisers increased its holdings in shares of Honest by 3.8% in the first quarter. Rhumbline Advisers now owns 114,087 shares of the company's stock valued at $536,000 after purchasing an additional 4,144 shares during the period. GAMMA Investing LLC increased its holdings in shares of Honest by 11,727.8% in the first quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock valued at $200,000 after purchasing an additional 4,222 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Honest by 57.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company's stock valued at $83,000 after purchasing an additional 6,513 shares during the period. Finally, Summit Securities Group LLC increased its holdings in shares of Honest by 6,101.8% in the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock valued at $32,000 after purchasing an additional 6,712 shares during the period. Institutional investors and hedge funds own 45.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Telsey Advisory Group dropped their price objective on Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Morgan Stanley dropped their price objective on Honest from $5.50 to $4.25 and set an "equal weight" rating on the stock in a report on Friday, August 15th. Finally, Zacks Research downgraded Honest from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.96.

Insider Activity at Honest

In related news, CEO Carla Vernon sold 99,328 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $362,547.20. Following the completion of the transaction, the chief executive officer directly owned 2,998,993 shares in the company, valued at approximately $10,946,324.45. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Winchell sold 10,841 shares of the company's 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,890 shares of company stock worth $481,399. 8.90% of the stock is currently owned by insiders.

Honest Trading Down 3.2%

Shares of NASDAQ:HNST traded down $0.13 on Friday, hitting $3.92. The company had a trading volume of 5,351,144 shares, compared to its average volume of 2,920,658. The Honest Company, Inc. has a 52-week low of $3.32 and a 52-week high of $8.97. The business has a 50 day moving average of $4.20 and a 200 day moving average of $4.62. The company has a market cap of $436.18 million, a PE ratio of 78.42 and a beta of 2.32.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Honest had a net margin of 1.66% and a return on equity of 3.84%. The company had revenue of $93.46 million during the quarter, compared to analysts' expectations of $92.18 million. As a group, equities analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current year.

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.