Victory Capital Management Inc. Buys New Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Victory Capital Management Inc. purchased a new position in The Honest Company, Inc. (NASDAQ:HNST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 159,430 shares of the company’s stock, valued at approximately $569,000. Victory Capital Management Inc. owned 0.16% of Honest at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the period. Renaissance Technologies LLC increased its position 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 acquiring an additional 846,300 shares during the period. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 382,418 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Honest by 706.1% during the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew 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 worth $1,742,000 after purchasing an additional 390,022 shares during the last quarter. Institutional investors own 45.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HNST. B. Riley increased their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. 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 report on Wednesday, November 13th. Northland Securities raised their target price on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group boosted 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, November 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.93.

Insider Buying and Selling

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brendan Sheehey sold 107,653 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the sale, the general counsel now owns 517,861 shares in the company, valued at $3,630,205.61. The trade was a 17.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,542,680 shares of company stock valued at $9,765,589 over the last quarter. Corporate insiders own 8.60% of the company’s stock.

Honest Price Performance

NASDAQ:HNST opened at $8.18 on Friday. The firm’s 50-day moving average price is $4.59 and its 200-day moving average price is $3.79. The company has a market capitalization of $825.86 million, a PE ratio of -204.50 and a beta of 1.85. The Honest Company, Inc. has a 1-year low of $1.83 and a 1-year high of $8.97.

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.