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

Ameriprise Financial Inc. lowered its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,121,137 shares of the company's stock after selling 891,800 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.11% of Honest worth $7,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HNST. SG Americas Securities LLC grew its stake in Honest by 47.7% in the fourth quarter. SG Americas Securities LLC now owns 42,229 shares of the company's stock worth $293,000 after purchasing an additional 13,644 shares in the last quarter. Entropy Technologies LP bought a new position in Honest in the fourth quarter worth approximately $115,000. New York State Teachers Retirement System purchased a new stake in Honest during the fourth quarter worth $52,000. Rhumbline Advisers lifted its holdings in Honest by 12.0% during the fourth quarter. Rhumbline Advisers now owns 109,943 shares of the company's stock worth $762,000 after buying an additional 11,794 shares during the period. Finally, Valmark Advisers Inc. lifted its holdings in Honest by 1.7% during the fourth quarter. Valmark Advisers Inc. now owns 163,015 shares of the company's stock worth $1,130,000 after buying an additional 2,735 shares during the period. Institutional investors own 45.54% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated a "market perform" rating and set a $7.00 target price on shares of Honest in a report on Thursday, May 8th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $7.70.

Honest Trading Up 2.7%

Shares of HNST traded up $0.13 during midday trading on Tuesday, hitting $4.98. 2,475,379 shares of the company's stock traded hands, compared to its average volume of 2,324,090. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The firm's fifty day moving average is $4.76 and its 200-day moving average is $5.85. The stock has a market capitalization of $548.98 million, a price-to-earnings ratio of -124.50 and a beta of 2.43.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, beating 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 $97.25 million during the quarter, compared to analyst estimates of $92.46 million. On average, equities research analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current year.

Insider Activity

In other news, insider Stephen Winchell sold 20,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction 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 represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Mayle sold 4,788 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $25,472.16. Following the sale, the senior vice president now owns 302,952 shares of the company's stock, valued at approximately $1,611,704.64. This represents a 1.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,207 shares of company stock worth $1,163,795. Insiders own 8.90% of the company's stock.

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.