The Honest Company, Inc. $HNST Shares Sold by Strs Ohio

Strs Ohio reduced its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 35.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490,245 shares of the company’s stock after selling 265,055 shares during the period. Strs Ohio owned about 0.44% of Honest worth $2,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Honest during the 1st quarter valued at approximately $10,554,000. Goldman Sachs Group Inc. increased its position in Honest by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock worth $5,002,000 after buying an additional 163,380 shares during the period. GSA Capital Partners LLP increased its position in Honest by 68.2% in the first quarter. GSA Capital Partners LLP now owns 272,284 shares of the company’s stock worth $1,280,000 after buying an additional 110,408 shares during the period. Templeton & Phillips Capital Management LLC acquired a new stake in Honest in the second quarter worth $570,000. Finally, Inspire Investing LLC acquired a new stake in Honest in the first quarter worth $341,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Brendan Sheehey sold 12,059 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $44,015.35. Following the transaction, the general counsel directly owned 568,588 shares of the company’s stock, valued at approximately $2,075,346.20. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carla Vernon sold 99,328 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total value of $362,547.20. Following the transaction, the chief executive officer directly owned 2,998,993 shares of the company’s stock, valued at $10,946,324.45. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 131,890 shares of company stock valued at $481,399. Company insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HNST shares. Morgan Stanley dropped their target price on Honest from $5.50 to $4.25 and set an “equal weight” rating on the stock in a research report on Friday, August 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Honest in a research report on Thursday, October 30th. Zacks Research raised Honest from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Weiss Ratings lowered Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.96.

Honest Stock Performance

Shares of HNST opened at $3.36 on Tuesday. The firm has a market capitalization of $373.87 million, a price-to-earnings ratio of 67.21 and a beta of 2.28. The Honest Company, Inc. has a one year low of $3.28 and a one year high of $8.97. The stock’s fifty day moving average is $3.79 and its 200-day moving average is $4.37.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.18 million. Honest had a net margin of 1.66% and a return on equity of 3.84%. Analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Honest Company 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.