Bank of America Corp DE Has $1.46 Million Stake in The Honest Company, Inc. (NASDAQ:HNST)

Bank of America Corp DE boosted its position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,351 shares of the company's stock after purchasing an additional 81,227 shares during the period. Bank of America Corp DE owned about 0.21% of Honest worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after buying an additional 1,052,305 shares during the period. Renaissance Technologies LLC boosted its position in 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 acquiring an additional 398,603 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Honest by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock worth $12,658,000 after acquiring an additional 14,539 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 1,386,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Honest by 27.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,615 shares of the company's stock valued at $9,678,000 after purchasing an additional 299,186 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company's stock.

Insider Activity

In related news, CEO Carla Vernon sold 98,950 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $526,414.00. Following the sale, the chief executive officer now owns 3,098,321 shares in the company, valued at approximately $16,483,067.72. This represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Winchell sold 20,000 shares of Honest 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 transaction, the insider now directly owns 431,844 shares of the company's stock, 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. Insiders sold a total of 223,207 shares of company stock valued at $1,163,795 over the last three months. Insiders own 8.90% of the company's stock.

Analyst Ratings Changes

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

Honest Price Performance

HNST stock traded up $0.04 during mid-day trading on Friday, reaching $5.16. The company had a trading volume of 2,343,939 shares, compared to its average volume of 2,371,534. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The stock has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $5.80. The company has a market capitalization of $568.82 million, a price-to-earnings ratio of -129.00 and a beta of 2.39.

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