Ieq Capital LLC Increases Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

Ieq Capital LLC grew its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 61.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,651 shares of the company's stock after purchasing an additional 49,673 shares during the quarter. Ieq Capital LLC owned approximately 0.13% of Honest worth $905,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ArrowMark Colorado Holdings LLC raised its holdings in shares of Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock valued at $11,295,000 after purchasing an additional 191,547 shares in the last quarter. Geode Capital Management LLC raised its stake in Honest by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company's stock worth $6,468,000 after acquiring an additional 65,995 shares in the last quarter. State Street Corp raised its stake in Honest by 23.0% during the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company's stock worth $4,218,000 after acquiring an additional 220,699 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Honest by 1,504.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company's stock worth $3,040,000 after acquiring an additional 798,384 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Honest by 377.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company's stock worth $2,762,000 after acquiring an additional 611,844 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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Honest Stock Performance

HNST stock traded up $0.39 during trading on Friday, reaching $5.40. 4,574,618 shares of the company were exchanged, compared to its average volume of 2,563,573. The company has a market cap of $545.19 million, a P/E ratio of -135.00 and a beta of 2.43. The Honest Company, Inc. has a 52-week low of $2.40 and a 52-week high of $8.97. The stock's 50 day moving average price is $6.27 and its 200 day moving average price is $5.45.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on HNST shares. Northland Securities lifted their price objective on shares of Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price objective on shares of Honest in a research note on Thursday. Alliance Global Partners lifted their price objective on shares of Honest from $5.75 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Loop Capital lowered shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Finally, B. Riley lifted their price objective on shares of Honest from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.93.

Insider Activity

In other news, Director Jessica Warren sold 465,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 1,170,058 shares of the company's stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.60% of the company's stock.

Honest 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.