44,058 Shares in The Honest Company, Inc. (NASDAQ:HNST) Bought by Franklin Resources Inc.

Franklin Resources Inc. purchased a new position in The Honest Company, Inc. (NASDAQ:HNST) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 44,058 shares of the company’s stock, valued at approximately $164,000.

Several other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after acquiring an additional 846,300 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Honest by 1,504.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after acquiring an additional 798,384 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Honest by 706.1% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew 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 worth $2,755,000 after acquiring an additional 382,418 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Honest by 216.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock valued at $1,947,000 after buying an additional 372,749 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Stock Performance

Shares of HNST opened at $6.79 on Friday. The company has a market capitalization of $685.53 million, a PE ratio of -169.75 and a beta of 2.42. The stock has a fifty day moving average of $6.45 and a two-hundred day moving average of $4.60. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

Insider Transactions at Honest

In other Honest news, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $50,573.30. Following the sale, the executive vice president now directly owns 382,613 shares of the company’s stock, valued at $2,716,552.30. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Carla Vernon sold 65,176 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $462,749.60. Following the transaction, the chief executive officer now owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Alliance Global Partners raised their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Tuesday, December 17th. B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group lifted their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently 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.