Nuveen LLC acquired a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,245,613 shares of the company's stock, valued at approximately $10,554,000. Nuveen LLC owned about 2.04% of Honest as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in HNST. Vanguard Group Inc. increased its holdings in Honest by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company's stock valued at $24,481,000 after buying an additional 61,299 shares during the last quarter. Victory Capital Management Inc. lifted its position in Honest by 98.8% during the first quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company's stock valued at $14,445,000 after purchasing an additional 1,527,080 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Honest by 589.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock valued at $16,616,000 after purchasing an additional 2,049,981 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Honest by 103.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock valued at $14,185,000 after acquiring an additional 1,041,040 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Honest by 16.4% in the fourth quarter. Millennium Management LLC now owns 1,664,081 shares of the company's stock valued at $11,532,000 after acquiring an additional 234,782 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Telsey Advisory Group reduced their price target on shares of Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley lowered their price target on shares of Honest from $5.50 to $4.25 and set an "equal weight" rating on the stock in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $6.96.
Get Our Latest Report on HNST
Honest Stock Performance
Shares of HNST stock traded up $0.09 on Wednesday, hitting $3.99. 1,544,732 shares of the stock traded hands, compared to its average volume of 2,884,253. The stock has a market capitalization of $443.41 million, a PE ratio of 79.72 and a beta of 2.34. The Honest Company, Inc. has a twelve month low of $3.32 and a twelve month high of $8.97. The firm's 50-day moving average price is $4.51 and its two-hundred day moving average price is $4.83.
Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Honest had a return on equity of 3.84% and a net margin of 1.66%.The business had revenue of $93.46 million for the quarter, compared to analysts' expectations of $92.18 million. On average, equities research analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.
Insider Buying and Selling at Honest
In related news, CEO Carla Vernon sold 99,328 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $362,547.20. Following the completion of the sale, the chief executive officer directly owned 2,998,993 shares of the company's stock, valued at $10,946,324.45. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Sheehey sold 12,059 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 $44,015.35. Following the completion of the sale, the general counsel directly owned 568,588 shares of the company's stock, valued at approximately $2,075,346.20. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,890 shares of company stock worth $481,399 over the last three months. Insiders own 8.90% of the company's stock.
Honest Profile
(
Free Report)
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.
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