Green Alpha Advisors LLC Takes $1.09 Million Position in The Honest Company, Inc. $HNST

Green Alpha Advisors LLC purchased a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 298,272 shares of the company’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Honest by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock valued at $235,000 after acquiring an additional 3,210 shares during the last quarter. Millennium Management LLC grew its holdings in Honest by 16.4% in the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after purchasing an additional 272,765 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Honest by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock worth $5,002,000 after purchasing an additional 163,380 shares in the last quarter. Creative Planning increased its position in shares of Honest by 183.2% during the second quarter. Creative Planning now owns 64,942 shares of the company’s stock worth $331,000 after purchasing an additional 42,008 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Honest by 18.1% during the second quarter. Rhumbline Advisers now owns 134,690 shares of the company’s stock worth $686,000 after purchasing an additional 20,603 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HNST shares. Freedom Capital raised Honest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. B. Riley Financial upped their target price on Honest from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Northland Securities set a $5.50 target price on Honest in a research report on Thursday, August 6th. Morgan Stanley increased their price target on Honest from $3.40 to $5.70 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Telsey Advisory Group raised their price target on Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Honest currently has an average rating of “Hold” and an average price target of $4.84.

Honest Stock Up 1.8%

Shares of NASDAQ:HNST opened at $5.05 on Friday. The Honest Company, Inc. has a 52-week low of $2.07 and a 52-week high of $5.84. The stock has a market cap of $555.90 million, a price-to-earnings ratio of -45.91 and a beta of 2.12. The business has a 50-day moving average price of $4.09 and a 200-day moving average price of $3.37.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%.The firm had revenue of $80.19 million for the quarter, compared to analyst estimates of $77.83 million. As a group, equities analysts anticipate that The Honest Company, Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, SVP Jonathan Mayle sold 79,000 shares of Honest stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $5.22, for a total transaction of $412,380.00. Following the completion of the sale, the senior vice president directly owned 370,155 shares in the company, valued at approximately $1,932,209.10. The trade was a 17.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrea Turner sold 29,899 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $5.21, for a total transaction of $155,773.79. Following the completion of the sale, the director directly owned 252,405 shares in the company, valued at $1,315,030.05. This trade represents a 10.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 143,295 shares of company stock valued at $750,453. Company insiders own 9.40% of the company’s stock.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.