Barclays PLC Boosts Stake in The Honest Company, Inc. (NASDAQ:HNST)

Barclays PLC raised its position in The Honest Company, Inc. (NASDAQ:HNST) by 298.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,386 shares of the company’s stock after purchasing an additional 82,713 shares during the quarter. Barclays PLC owned 0.11% of Honest worth $394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zacks Investment Management purchased a new position in Honest in the third quarter valued at approximately $37,000. Creative Planning acquired a new stake in shares of Honest in the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Honest in the 3rd quarter valued at $40,000. Castleview Partners LLC acquired a new position in shares of Honest during the 3rd quarter valued at $71,000. Finally, US Bancorp DE purchased a new stake in Honest during the 3rd quarter worth $78,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Stock Performance

Shares of Honest stock opened at $6.67 on Friday. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The firm’s 50-day simple moving average is $6.58 and its 200-day simple moving average is $4.64. The firm has a market cap of $673.41 million, a PE ratio of -166.75 and a beta of 2.42.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Alliance Global Partners boosted their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. B. Riley boosted their price target 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 upped their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Finally, Telsey Advisory Group upped 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. Three investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.79.

Insider Buying and Selling at Honest

In other Honest news, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $50,573.30. Following the sale, the executive vice president now directly owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brendan Sheehey sold 107,653 shares of the firm’s stock in a transaction dated 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 owns 517,861 shares in the company, valued at approximately $3,630,205.61. The trade was a 17.21 % 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 quarter. 8.60% of the stock is owned by corporate insiders.

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.