Green Alpha Advisors LLC Reduces Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Green Alpha Advisors LLC trimmed its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,347 shares of the company's stock after selling 85,792 shares during the period. Honest accounts for approximately 1.6% of Green Alpha Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Green Alpha Advisors LLC owned about 0.28% of Honest worth $1,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company's stock valued at $288,000 after purchasing an additional 5,330 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company's stock worth $805,000 after buying an additional 7,379 shares during the period. XTX Topco Ltd raised its position in Honest by 6.4% during the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company's stock worth $402,000 after buying an additional 8,282 shares during the last quarter. Zacks Investment Management purchased a new position in Honest during the 3rd quarter worth approximately $37,000. Finally, Creative Planning acquired a new stake in Honest during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 45.54% of the company's stock.

Honest Stock Performance

Shares of Honest stock traded down $0.21 on Monday, hitting $5.69. The company's stock had a trading volume of 961,117 shares, compared to its average volume of 2,043,012. The company has a market capitalization of $574.47 million, a price-to-earnings ratio of -142.25 and a beta of 2.45. The firm has a fifty day moving average price of $6.83 and a 200-day moving average price of $4.81. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97.

Insider Activity

In related news, Director Jessica Warren sold 465,000 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the sale, the director now owns 1,170,058 shares of the company's stock, valued at approximately $8,833,937.90. The trade was a 28.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brendan Sheehey sold 92,138 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total transaction of $749,081.94. Following the transaction, the general counsel now owns 516,816 shares of the company's stock, valued at $4,201,714.08. This represents a 15.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 over the last three months. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HNST shares. Alliance Global Partners raised their target price on shares of Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Telsey Advisory Group lifted their price objective on Honest from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Friday. Loop Capital cut Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective for the company. in a report on Tuesday, December 17th. B. Riley raised their target price on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.93.

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.