Nuveen Asset Management LLC Acquires 1,041,040 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Nuveen Asset Management LLC grew its stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 103.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,046,868 shares of the company's stock after purchasing an additional 1,041,040 shares during the quarter. Nuveen Asset Management LLC owned about 2.03% of Honest worth $14,185,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in Honest in the fourth quarter worth about $26,000. New York State Teachers Retirement System purchased a new position in shares of Honest during the 4th quarter worth approximately $52,000. Utah Retirement Systems bought a new position in shares of Honest in the 4th quarter worth approximately $86,000. Fox Run Management L.L.C. purchased a new position in shares of Honest in the 4th quarter valued at approximately $89,000. Finally, Walleye Trading LLC bought a new stake in shares of Honest during the fourth quarter valued at approximately $109,000. 45.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Honest Trading Up 0.9%

NASDAQ:HNST traded up $0.05 during trading hours on Friday, reaching $5.03. 503,449 shares of the company traded hands, compared to its average volume of 2,329,582. The stock has a market capitalization of $553.94 million, a P/E ratio of -125.88 and a beta of 2.43. The business's 50-day moving average price is $4.75 and its two-hundred day moving average price is $5.84. 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 issued 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 company had revenue of $97.25 million for the quarter, compared to analysts' expectations of $92.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, equities analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other news, CFO David Loretta sold 34,389 shares of Honest stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total transaction of $182,949.48. Following the sale, the chief financial officer now owns 883,153 shares in the company, valued at $4,698,373.96. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carla Vernon sold 98,950 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total transaction of $526,414.00. Following the transaction, the chief executive officer now directly owns 3,098,321 shares of the company's stock, valued at $16,483,067.72. This trade represents a 3.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,207 shares of company stock worth $1,163,795. Company insiders own 8.90% of the company's stock.

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.