Valmark Advisers Inc. Reduces Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Valmark Advisers Inc. trimmed its position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 37.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,504 shares of the company's stock after selling 60,511 shares during the quarter. Valmark Advisers Inc. owned 0.09% of Honest worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after buying an additional 1,052,305 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Honest by 589.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock worth $16,616,000 after purchasing an additional 2,049,981 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Honest by 20.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock worth $16,439,000 after purchasing an additional 398,603 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Honest by 103.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock worth $14,185,000 after purchasing an additional 1,041,040 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Honest by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock worth $12,658,000 after purchasing an additional 14,539 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Honest

In related news, SVP Jonathan Mayle sold 4,788 shares of Honest stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $25,472.16. Following the completion of the sale, the senior vice president now directly owns 302,952 shares in the company, valued at $1,611,704.64. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Carla Vernon sold 98,950 shares of Honest stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $526,414.00. Following the completion of the sale, the chief executive officer now owns 3,098,321 shares of the company's stock, valued at $16,483,067.72. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,726 shares of company stock worth $881,662 over the last three months. 8.90% of the stock is owned by corporate insiders.

Honest Trading Up 2.1%

NASDAQ:HNST opened at $4.95 on Wednesday. The Honest Company, Inc. has a twelve month low of $2.55 and a twelve month high of $8.97. The company has a market cap of $545.67 million, a price-to-earnings ratio of -247.50 and a beta of 2.39. The stock has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $5.48.

Honest (NASDAQ:HNST - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $97.25 million during the quarter, compared to the consensus estimate of $92.46 million. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. As a group, equities research analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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