The Honest Company, Inc. (NASDAQ:HNST) Position Raised by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 61.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,651 shares of the company’s stock after purchasing an additional 49,673 shares during the period. Ieq Capital LLC owned 0.13% of Honest worth $905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HNST. New York State Common Retirement Fund grew its position in Honest by 39.3% during the 4th quarter. New York State Common Retirement Fund now owns 197,346 shares of the company’s stock worth $1,368,000 after purchasing an additional 55,699 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Honest in the 4th quarter valued at $756,000. Valmark Advisers Inc. lifted its stake in shares of Honest by 1.7% in the 4th quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock valued at $1,130,000 after purchasing an additional 2,735 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Honest by 12.0% in the 4th quarter. Rhumbline Advisers now owns 109,943 shares of the company’s stock valued at $762,000 after purchasing an additional 11,794 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Honest in the 4th quarter valued at $52,000. Institutional investors own 45.54% of the company’s stock.

Insider Activity

In related news, Director Jessica Warren sold 465,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on HNST. Northland Securities boosted their target price on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. Alliance Global Partners upped their price objective 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of Honest in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Price Performance

HNST opened at $5.57 on Wednesday. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The company’s 50 day simple moving average is $6.35 and its 200-day simple moving average is $5.44. The stock has a market capitalization of $562.35 million, a P/E ratio of -139.25 and a beta of 2.43.

About Honest

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.