Victory Capital Management Inc. Raises Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Victory Capital Management Inc. increased its holdings in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 869.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,546,391 shares of the company's stock after acquiring an additional 1,386,961 shares during the quarter. Victory Capital Management Inc. owned about 1.53% of Honest worth $10,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HNST. Jacobs Levy Equity Management Inc. lifted its position in Honest by 1,504.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company's stock valued at $3,040,000 after buying an additional 798,384 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Honest by 377.8% during the third quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company's stock valued at $2,762,000 after acquiring an additional 611,844 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 in the last quarter. State Street Corp increased its holdings in shares of Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company's stock valued at $4,218,000 after acquiring an additional 220,699 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of Honest by 6.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock valued at $11,295,000 after acquiring an additional 191,547 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company's stock.

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Insider Activity

In related news, insider Stephen Winchell sold 20,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the transaction, the insider now directly owns 431,844 shares of the company's stock, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Mayle sold 37,481 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HNST shares. Telsey Advisory Group restated a "market perform" rating and set a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Northland Securities raised 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. Finally, Loop Capital downgraded Honest from a "buy" rating to a "hold" rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.42.

Honest Stock Up 5.2 %

HNST traded up $0.25 during mid-day trading on Friday, reaching $5.09. 2,599,909 shares of the company traded hands, compared to its average volume of 2,001,962. The company's fifty day moving average price is $5.90 and its 200-day moving average price is $5.50. The stock has a market capitalization of $554.35 million, a P/E ratio of -127.25 and a beta of 2.45. The Honest Company, Inc. has a 52-week low of $2.40 and a 52-week high of $8.97.

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

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.