Envestnet Asset Management Inc. Has $1.35 Million Stock Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Key Points

• Envestnet Asset Management Inc. reduced its stake in The Honest Company by 26.3%, selling 102,513 shares, and now owns approximately 0.26% of the company, valued at $1.35 million.
• Multiple institutional investors have increased their positions in Honest, with Wealth Enhancement Advisory Services LLC boosting its stake by 57.9% during the same quarter.
• The Honest Company reported an EPS of $0.03, surpassing the consensus estimate, and its stock currently holds a market cap of approximately $508.21 million.

Envestnet Asset Management Inc. lowered its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 26.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,162 shares of the company's stock after selling 102,513 shares during the period. Envestnet Asset Management Inc. owned approximately 0.26% of Honest worth $1,350,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. raised its stake in shares of Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock worth $16,616,000 after buying an additional 2,049,981 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Honest by 25.7% in the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after acquiring an additional 1,052,305 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Honest in the 4th quarter worth $932,000. Dimensional Fund Advisors LP grew its holdings in shares of Honest by 27.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,396,615 shares of the company's stock worth $9,678,000 after acquiring an additional 299,186 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Honest by 103.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock worth $14,185,000 after acquiring an additional 1,041,040 shares during the last quarter. Institutional investors own 45.54% of the company's stock.

Insider Transactions at Honest

In other Honest news, General Counsel Brendan Sheehey sold 12,017 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $63,930.44. Following the transaction, the general counsel owned 580,647 shares in the company, valued at $3,089,042.04. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Winchell sold 10,746 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $57,168.72. Following the completion of the transaction, the insider owned 421,098 shares in the company, valued at $2,240,241.36. This trade represents a 2.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,726 shares of company stock valued at $881,662. Corporate insiders own 8.90% of the company's stock.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 price target on shares of Honest in a report on Wednesday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Honest presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.70.

Honest Stock Performance

Shares of HNST stock traded down $0.13 on Friday, reaching $4.48. 2,767,935 shares of the company's stock traded hands, compared to its average volume of 2,808,593. The Honest Company, Inc. has a 12-month low of $2.99 and a 12-month high of $8.97. The company has a market capitalization of $493.88 million, a P/E ratio of -224.00 and a beta of 2.34. The business's 50 day moving average price is $4.80 and its two-hundred day moving average price is $5.10.

Honest (NASDAQ:HNST - Get Free Report) last issued its 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 return on equity of 0.95% and a negative net margin of 0.38%. The firm had revenue of $97.25 million for the quarter, compared to the consensus estimate of $92.46 million. Research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share 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.