Principal Financial Group Inc. bought a new position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 109,094 shares of the company's stock, valued at approximately $756,000. Principal Financial Group Inc. owned about 0.11% of Honest as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Honest by 216.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company's stock valued at $1,947,000 after acquiring an additional 372,749 shares during the period. Walleye Capital LLC acquired a new position in Honest in the third quarter worth approximately $260,000. Harbor Capital Advisors Inc. lifted its position in shares of Honest by 122.5% in the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company's stock worth $784,000 after buying an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Honest during the third quarter valued at approximately $843,000. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock worth $11,295,000 after acquiring an additional 191,547 shares during the period. Institutional investors and hedge funds own 45.54% of the company's stock.
Insider Transactions at Honest
In related news, Director Jessica Warren sold 465,000 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares of the company's stock, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.60% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on HNST. Loop Capital cut shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 target price for the company. in a research note on Tuesday, December 17th. Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 target price on shares of Honest in a research note on Thursday, February 27th. B. Riley boosted their price target on Honest from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Alliance Global Partners lifted their price objective on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.42.
Check Out Our Latest Research Report on HNST
Honest Price Performance
Shares of Honest stock traded up $0.08 during midday trading on Friday, hitting $4.97. 3,869,731 shares of the company were exchanged, compared to its average volume of 1,980,678. The firm has a 50 day simple moving average of $6.09 and a 200-day simple moving average of $5.49. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The firm has a market cap of $541.28 million, a P/E ratio of -124.25 and a beta of 2.45.
Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. Equities research analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current year.
About Honest
(
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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