Fmr LLC Buys 24,900 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Fmr LLC grew its stake in The Honest Company, Inc. (NASDAQ:HNST) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,742 shares of the company’s stock after purchasing an additional 24,900 shares during the period. Fmr LLC owned approximately 0.22% of Honest worth $784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Honest by 216.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock valued at $1,947,000 after purchasing an additional 372,749 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Honest by 122.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after purchasing an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Honest during the third quarter valued at about $843,000. Inspire Investing LLC bought a new position in Honest in the third quarter worth about $806,000. Finally, Algert Global LLC lifted its position in shares of Honest by 98.7% during the third quarter. Algert Global LLC now owns 126,122 shares of the company’s stock valued at $450,000 after buying an additional 62,650 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Down 4.6 %

Honest stock opened at $7.09 on Wednesday. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The stock has a 50-day moving average price of $5.76 and a 200 day moving average price of $4.29. The company has a market capitalization of $715.81 million, a price-to-earnings ratio of -177.25 and a beta of 2.42.

Insider Transactions at Honest

In related news, General Counsel Brendan Sheehey sold 107,653 shares of Honest stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.01, for a total transaction of $754,647.53. Following the completion of the transaction, the general counsel now directly owns 517,861 shares in the company, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jessica Warren sold 465,000 shares of the business’s 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 completion of the transaction, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock worth $5,975,421 over the last 90 days. 8.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HNST has been the subject of several recent analyst reports. Alliance Global Partners boosted 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. Telsey Advisory Group upped their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. B. Riley raised their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities increased their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Tuesday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Honest currently has an average rating of “Moderate Buy” and an average target price of $6.79.

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.