63,951 Shares in The Honest Company, Inc. (NASDAQ:HNST) Purchased by Summit Global Investments

Summit Global Investments acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,951 shares of the company’s stock, valued at approximately $443,000.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of Honest by 30.4% during the 4th quarter. Intech Investment Management LLC now owns 37,547 shares of the company’s stock valued at $260,000 after acquiring an additional 8,748 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Honest in the fourth quarter worth $313,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Honest by 32.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 719,871 shares of the company’s stock worth $4,989,000 after buying an additional 174,548 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Honest during the 4th quarter valued at $336,000. Finally, Victory Capital Management Inc. grew its stake in shares of Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after acquiring an additional 1,386,961 shares during the period. Institutional investors own 45.54% of the company’s stock.

Analysts Set New Price Targets

HNST has been the topic of a number of research reports. Northland Securities boosted their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Tuesday, December 17th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.42.

Insider Transactions at Honest

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

Honest Stock Up 2.6 %

Shares of HNST opened at $5.15 on Tuesday. The Honest Company, Inc. has a twelve month low of $2.40 and a twelve month high of $8.97. The stock has a market cap of $560.89 million, a PE ratio of -128.75 and a beta of 2.45. The business’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.55.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The business had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. Analysts expect that The Honest Company, Inc. will post -0.07 earnings per share 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.