Walleye Capital LLC Purchases Shares of 72,933 The Honest Company, Inc. (NASDAQ:HNST)

Walleye Capital LLC purchased a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 72,933 shares of the company’s stock, valued at approximately $260,000. Walleye Capital LLC owned approximately 0.07% of Honest as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Honest by 7.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after purchasing an additional 5,330 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after buying an additional 7,379 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after buying an additional 8,282 shares during the last quarter. Creative Planning bought a new stake in shares of Honest in the third quarter worth $39,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Honest during the third quarter valued at $40,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Price Performance

Shares of HNST opened at $7.55 on Wednesday. The business’s 50-day moving average is $5.40 and its 200-day moving average is $4.13. The Honest Company, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $8.97. The company has a market capitalization of $762.26 million, a price-to-earnings ratio of -188.75 and a beta of 2.40.

Analyst Ratings Changes

HNST has been the subject of several recent research reports. Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their price target 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. Finally, B. Riley upped their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.21.

Insider Buying and Selling

In other news, General Counsel Brendan Sheehey sold 92,138 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the transaction, the general counsel now directly owns 516,816 shares of the company’s stock, valued at $4,201,714.08. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,634,818 shares of company stock worth $10,514,671. Insiders own 8.60% of the company’s stock.

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.