Olympiad Research LP Takes Position in The Honest Company, Inc. (NASDAQ:HNST)

Olympiad Research LP bought a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,271 shares of the company’s stock, valued at approximately $168,000.

Other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System acquired a new stake in shares of Honest in the fourth quarter valued at about $52,000. Zacks Investment Management acquired a new stake in shares of Honest in the third quarter valued at about $37,000. Creative Planning acquired a new stake in shares of Honest in the third quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest in the third quarter valued at about $40,000. Finally, Entropy Technologies LP acquired a new stake in shares of Honest in the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of Honest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total transaction of $749,081.94. Following the completion of the sale, the general counsel now directly owns 516,816 shares in the company, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jessica Warren sold 465,000 shares of Honest stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now owns 1,170,058 shares of the company’s stock, valued at approximately $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HNST. Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, December 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price target on shares of Honest in a research note on Wednesday, February 19th. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities raised their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, B. Riley raised their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three 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. According to MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Price Performance

Shares of HNST stock opened at $5.73 on Monday. The firm’s 50-day moving average is $6.41 and its two-hundred day moving average is $5.41. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97. The company has a market capitalization of $578.00 million, a PE ratio of -143.13 and a beta of 2.43.

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.