Wealth Enhancement Advisory Services LLC Acquires Shares of 11,248 The Honest Company, Inc. (NASDAQ:HNST)

Wealth Enhancement Advisory Services LLC acquired a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,248 shares of the company’s stock, valued at approximately $40,000.

A number of other large investors have also recently made changes to their positions in HNST. Hillsdale Investment Management Inc. bought a new position in shares of Honest in the first quarter valued at $3,777,000. Renaissance Technologies LLC lifted its stake in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after buying an additional 846,300 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after buying an additional 627,464 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Honest by 973.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock valued at $1,742,000 after buying an additional 390,022 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after purchasing an additional 382,418 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HNST. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities raised their price target on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. Telsey Advisory Group raised their price target on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, B. Riley raised their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

Insiders Place Their Bets

In other news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. Company insiders own 8.60% of the company’s stock.

Honest Stock Performance

Shares of HNST stock opened at $6.01 on Thursday. The firm has a market cap of $601.48 million, a price-to-earnings ratio of -150.25 and a beta of 1.85. The Honest Company, Inc. has a 52 week low of $1.39 and a 52 week high of $6.53. The firm’s 50-day simple moving average is $3.86 and its two-hundred day simple moving average is $3.47.

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.