The Honest Company, Inc. $HNST Shares Sold 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. cut its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 92.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,296 shares of the company's stock after selling 719,702 shares during the quarter. Invesco Ltd. owned about 0.05% of Honest worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HNST. Bailard Inc. acquired a new position in Honest during the first quarter worth about $78,000. Wealth Enhancement Advisory Services LLC boosted its position in 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 acquiring an additional 6,513 shares during the last quarter. Cerity Partners LLC acquired a new position in Honest during the first quarter worth about $90,000. Captrust Financial Advisors acquired a new position in Honest during the fourth quarter worth about $110,000. Finally, Voloridge Investment Management LLC purchased a new stake in Honest in the 4th quarter valued at $159,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Honest

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

Honest Price Performance

NASDAQ:HNST opened at $4.01 on Monday. The firm has a market capitalization of $446.19 million, a price-to-earnings ratio of 80.22 and a beta of 2.33. The company's 50-day moving average is $4.38 and its two-hundred day moving average is $4.70. The Honest Company, Inc. has a 1-year low of $3.32 and a 1-year high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last released 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 net margin of 1.66% and a return on equity of 3.84%. The company had revenue of $93.46 million during the quarter, compared to analysts' expectations of $92.18 million. As a group, equities analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on HNST shares. Morgan Stanley dropped their target price on Honest from $5.50 to $4.25 and set an "equal weight" rating for the company in a report on Friday, August 15th. Telsey Advisory Group decreased their target price on shares of Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a report 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $6.96.

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.

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