State Street Corp Grows Stock Holdings in The Honest Company, Inc. (NASDAQ:HNST)

State Street Corp boosted its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 23.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,181,469 shares of the company's stock after buying an additional 220,699 shares during the period. State Street Corp owned approximately 1.17% of Honest worth $4,218,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Honest in the 2nd quarter worth $695,000. Panagora Asset Management Inc. purchased a new stake in Honest in the 2nd quarter valued at approximately $43,000. Rhumbline Advisers boosted its holdings in Honest by 2,486.2% in the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company's stock valued at $305,000 after purchasing an additional 100,441 shares in the last quarter. Acadian Asset Management LLC increased its position in Honest by 706.1% during the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company's stock worth $2,088,000 after purchasing an additional 627,464 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Honest by 41.5% during the 2nd quarter. American Century Companies Inc. now owns 111,141 shares of the company's stock worth $325,000 after buying an additional 32,586 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HNST. Northland Securities lifted their price target on Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. B. Riley upped their price target on shares of Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Alliance Global Partners raised 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. Telsey Advisory Group boosted their price objective on shares of Honest from $4.00 to $6.00 and gave the stock a "market perform" rating in a report on Wednesday, November 13th. Finally, 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 report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Honest presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.79.

Insider Buying and Selling

In related news, 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 transaction of $59,583.20. Following the sale, the general counsel now owns 516,816 shares of the company's stock, valued at $3,669,393.60. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carla Vernon sold 65,176 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the transaction, the chief executive officer now directly owns 2,763,143 shares of the company's stock, valued at $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 in the last ninety days. Insiders own 8.60% of the company's stock.

Honest Price Performance

Shares of NASDAQ HNST traded down $0.03 on Monday, hitting $6.90. The company's stock had a trading volume of 2,144,267 shares, compared to its average volume of 1,665,616. The stock has a 50 day moving average of $6.26 and a 200-day moving average of $4.52. The company has a market capitalization of $696.63 million, a price-to-earnings ratio of -172.50 and a beta of 2.42. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97.

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.