Invesco Ltd. Buys 743,479 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Invesco Ltd. increased its stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 2,035.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,998 shares of the company's stock after buying an additional 743,479 shares during the quarter. Invesco Ltd. owned 0.77% of Honest worth $5,405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HNST. Ieq Capital LLC raised its holdings in shares of Honest by 61.3% in the fourth quarter. Ieq Capital LLC now owns 130,651 shares of the company's stock valued at $905,000 after purchasing an additional 49,673 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Honest in the 4th quarter valued at about $819,000. Vanguard Group Inc. lifted its position in shares of Honest by 25.7% during the 4th 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 in the last quarter. Barclays PLC grew its holdings in shares of Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company's stock valued at $394,000 after acquiring an additional 82,713 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Honest during the fourth quarter valued at approximately $756,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares of the company's stock, valued at $1,498,693.80. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares in the company, valued at $2,150,583.12. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Honest Stock Performance

NASDAQ HNST traded up $0.06 on Thursday, hitting $4.85. 318,929 shares of the stock traded hands, compared to its average volume of 2,163,758. The business's fifty day moving average is $4.81 and its two-hundred day moving average is $5.68. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97. The firm has a market capitalization of $534.06 million, a price-to-earnings ratio of -121.13 and a beta of 2.44.

Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The company had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. Analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price objective on shares of Honest in a research note on Wednesday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently 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.