Connor Clark & Lunn Investment Management Ltd. Buys 372,749 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 216.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 545,323 shares of the company's stock after purchasing an additional 372,749 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.54% of Honest worth $1,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Honest in the 1st quarter worth about $27,000. Creative Planning purchased a new stake in Honest in the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Honest during the 3rd quarter valued at about $40,000. Panagora Asset Management Inc. bought a new stake in shares of Honest during the 2nd quarter valued at $43,000. Finally, Lazard Asset Management LLC purchased a new stake in Honest during the first quarter valued at approximately $52,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Honest

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Sheehey sold 8,392 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $59,583.20. Following the completion of the sale, the general counsel now directly owns 516,816 shares in the company, valued at $3,669,393.60. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,542,680 shares of company stock worth $9,765,589 over the last quarter. Insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 13th. Northland Capmk raised shares of Honest to a "strong-buy" rating in a research report on Tuesday, August 6th. B. Riley upped 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 increased their price target on shares of Honest from $6.50 to $7.50 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Alliance Global Partners boosted their price target on Honest from $5.75 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $5.93.

Honest Trading Down 2.9 %

Shares of HNST stock traded down $0.25 on Tuesday, hitting $8.32. 4,857,090 shares of the stock were exchanged, compared to its average volume of 1,535,342. The firm has a market capitalization of $839.99 million, a PE ratio of -208.00 and a beta of 1.85. The Honest Company, Inc. has a one year low of $1.83 and a one year high of $8.97. The firm's 50 day moving average is $4.41 and its two-hundred day moving average is $3.73.

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.