Nuveen LLC Takes $10.55 Million Position in The Honest Company, Inc. $HNST

Key Points

• Nuveen LLC has made a new investment of approximately $10.55 million in The Honest Company, acquiring over 2.2 million shares, which amounts to 2.04% ownership of the company.
• Insiders, including CEO Carla Vernon, sold a combined total of 131,890 shares in recent transactions, reflecting changes in their ownership percentages.
• Analysts have set a consensus price target for Honest at $6.96, with mixed ratings including three Buy and three Hold ratings following the company's earnings report.

Nuveen LLC bought a new stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,245,613 shares of the company's stock, valued at approximately $10,554,000. Nuveen LLC owned about 2.04% of Honest at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Honest by 6.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company's stock valued at $324,000 after buying an additional 2,761 shares during the last quarter. Rhumbline Advisers boosted its stake in Honest by 3.8% during the 1st quarter. Rhumbline Advisers now owns 114,087 shares of the company's stock worth $536,000 after purchasing an additional 4,144 shares during the period. GAMMA Investing LLC boosted its stake in Honest by 11,727.8% during the 1st quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock worth $200,000 after purchasing an additional 4,222 shares during the period. Legal & General Group Plc boosted its stake in Honest by 30.1% during the 4th quarter. Legal & General Group Plc now owns 26,571 shares of the company's stock worth $184,000 after purchasing an additional 6,146 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Honest by 57.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company's stock worth $83,000 after purchasing an additional 6,513 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Price Performance

Shares of HNST stock traded down $0.02 during mid-day trading on Thursday, hitting $3.96. The stock had a trading volume of 2,300,193 shares, compared to its average volume of 4,857,321. The Honest Company, Inc. has a fifty-two week low of $3.32 and a fifty-two week high of $8.97. The firm has a market cap of $440.63 million, a PE ratio of 79.22 and a beta of 2.34. The company's 50-day simple moving average is $4.49 and its 200-day simple moving average is $4.81.

Honest (NASDAQ:HNST - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Honest had a return on equity of 3.84% and a net margin of 1.66%.The firm had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.18 million. On average, analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Honest from $5.50 to $4.25 and set an "equal weight" rating for the company in a research note on Friday, August 15th. Telsey Advisory Group decreased their price target on shares of Honest from $7.00 to $6.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Honest has a consensus rating of "Moderate Buy" and an average target price of $6.96.

Insider Transactions at Honest

In other news, insider Stephen Winchell sold 10,841 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total value of $39,569.65. Following the completion of the sale, the insider owned 410,257 shares in the company, valued at approximately $1,497,438.05. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brendan Sheehey sold 12,059 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $44,015.35. Following the completion of the sale, the general counsel owned 568,588 shares of the company's stock, valued at $2,075,346.20. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,890 shares of company stock worth $481,399. Company insiders own 8.90% of the company's stock.

Honest Company 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.