The Honest Company, Inc. $HNST Stock Holdings Lowered by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in The Honest Company, selling 719,702 shares and decreasing its holdings by 92.3% during the first quarter.
• Despite the sell-off by Invesco, a number of other institutional investors have increased their positions in Honest, which is currently 45.54% owned by institutional investors.
• The Honest Company has recently seen its stock price adjustments, with target prices set by analysts dropping as low as $4.25, reflecting mixed sentiment in the market.

Invesco Ltd. reduced its position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 92.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,296 shares of the company's stock after selling 719,702 shares during the period. Invesco Ltd. owned about 0.05% of Honest worth $283,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Honest by 11,727.8% during the first quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock worth $200,000 after purchasing an additional 4,222 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Honest during the fourth quarter worth $110,000. Bailard Inc. acquired a new position in shares of Honest during the first quarter worth $78,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Honest by 57.9% during the first 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 in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Honest during the first quarter worth $90,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on HNST shares. Morgan Stanley reduced their target price on shares of Honest from $5.50 to $4.25 and set an "equal weight" rating on the stock in a research report on Friday, August 15th. Telsey Advisory Group dropped 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. Finally, Zacks Research lowered shares of Honest from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Honest presently has an average rating of "Hold" and a consensus price target of $6.96.

Honest Stock Up 1.8%

Shares of NASDAQ:HNST traded up $0.07 on Friday, reaching $4.02. 3,862,233 shares of the company's stock were exchanged, compared to its average volume of 3,281,710. The firm has a market capitalization of $447.31 million, a price-to-earnings ratio of 80.42 and a beta of 2.32. The Honest Company, Inc. has a fifty-two week low of $3.32 and a fifty-two week high of $8.97. The business's 50-day moving average is $4.27 and its two-hundred day moving average is $4.65.

Honest (NASDAQ:HNST - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.18 million. Honest had a return on equity of 3.84% and a net margin of 1.66%. Analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carla Vernon sold 99,328 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total transaction of $362,547.20. Following the completion of the transaction, the chief executive officer owned 2,998,993 shares in the company, valued at approximately $10,946,324.45. This represents a 3.21% decrease in their ownership of the stock. 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 10,841 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $39,569.65. Following the transaction, the insider owned 410,257 shares of the company's stock, valued at $1,497,438.05. This represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,890 shares of company stock valued at $481,399. 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.