Ameriprise Financial Inc. Lowers Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Ameriprise Financial Inc. decreased its stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,121,137 shares of the company's stock after selling 891,800 shares during the quarter. Ameriprise Financial Inc. owned about 1.11% of Honest worth $7,769,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HNST. SBI Securities Co. Ltd. purchased a new position in shares of Honest in the fourth quarter worth $26,000. New York State Teachers Retirement System bought a new position in shares of Honest during the fourth quarter valued at $52,000. Utah Retirement Systems bought a new position in shares of Honest during the fourth quarter valued at $86,000. Fox Run Management L.L.C. bought a new position in shares of Honest during the fourth quarter valued at $89,000. Finally, Walleye Trading LLC bought a new position in shares of Honest during the fourth quarter valued at $109,000. Hedge funds and other institutional investors own 45.54% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the sale, the senior vice president now owns 307,740 shares in the company, valued at $1,498,693.80. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the insider now directly owns 431,844 shares in the company, valued at approximately $2,150,583.12. The trade was a 4.43% 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.

Honest Price Performance

Shares of NASDAQ:HNST opened at $4.96 on Thursday. The company has a market cap of $546.78 million, a P/E ratio of -124.00 and a beta of 2.43. The stock's fifty day moving average price is $4.77 and its 200-day moving average price is $5.82. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $97.25 million for the quarter, compared to analysts' expectations of $92.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. On average, sell-side analysts anticipate 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.

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