The Honest Company, Inc. (NASDAQ:HNST) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in The Honest Company, Inc. (NASDAQ:HNST) by 81.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 201,790 shares of the company’s stock after selling 915,200 shares during the period. Allspring Global Investments Holdings LLC owned about 0.21% of Honest worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in shares of Honest in the third quarter valued at $110,000. Pathstone Family Office LLC grew its position in Honest by 159.4% in the 3rd quarter. Pathstone Family Office LLC now owns 64,860 shares of the company’s stock valued at $82,000 after acquiring an additional 39,860 shares in the last quarter. Wade G W & Inc. increased its stake in Honest by 69.2% during the third quarter. Wade G W & Inc. now owns 185,605 shares of the company’s stock worth $234,000 after purchasing an additional 75,935 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of Honest during the third quarter worth about $89,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Honest by 25.3% in the third quarter. GSA Capital Partners LLP now owns 1,078,733 shares of the company’s stock valued at $1,359,000 after purchasing an additional 217,721 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Price Performance

NASDAQ:HNST opened at $3.06 on Thursday. The Honest Company, Inc. has a 12 month low of $1.06 and a 12 month high of $4.89. The firm has a market capitalization of $296.91 million, a PE ratio of -7.29 and a beta of 1.83. The business’s fifty day moving average price is $3.64 and its 200 day moving average price is $2.76.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $90.26 million for the quarter, compared to the consensus estimate of $83.54 million. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. As a group, equities analysts anticipate that The Honest Company, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Lake Street Capital started coverage on shares of Honest in a report on Thursday, April 4th. They set a “buy” rating and a $6.00 target price on the stock. Alliance Global Partners assumed coverage on Honest in a report on Tuesday, February 6th. They issued a “buy” rating and a $5.75 target price for the company. Morgan Stanley boosted their target price on Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Loop Capital reduced their price target on Honest from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price objective on shares of Honest in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.55.

Insider Buying and Selling at Honest

In other news, insider Jessica Warren sold 23,324 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total transaction of $75,569.76. Following the completion of the sale, the insider now owns 1,905,237 shares in the company, valued at approximately $6,172,967.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Stephen Winchell sold 19,665 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $63,714.60. Following the transaction, the executive vice president now owns 428,957 shares in the company, valued at approximately $1,389,820.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Warren sold 23,324 shares of Honest stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $75,569.76. Following the transaction, the insider now directly owns 1,905,237 shares in the company, valued at approximately $6,172,967.88. The disclosure for this sale can be found here. Insiders have sold 803,229 shares of company stock worth $2,684,496 over the last three months. Insiders own 26.20% of the company’s stock.

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.