Geode Capital Management LLC Increases Position in The Honest Company, Inc. (NASDAQ:HNST)

Geode Capital Management LLC lifted its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,811,621 shares of the company’s stock after purchasing an additional 65,995 shares during the period. Geode Capital Management LLC owned about 1.79% of Honest worth $6,468,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CEO Carla Vernon sold 65,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $462,749.60. Following the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jessica Warren sold 465,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was 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 in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 799,818 shares of company stock valued at $5,975,421. Corporate insiders own 8.60% of the company’s stock.

Honest Stock Performance

HNST opened at $6.67 on Friday. The company has a market cap of $673.41 million, a price-to-earnings ratio of -166.75 and a beta of 2.42. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The business’s fifty day moving average is $6.58 and its two-hundred day moving average is $4.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HNST shares. Telsey Advisory Group lifted their target price on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Northland Securities upped their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Alliance Global Partners increased their target price 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. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Tuesday, December 17th. Finally, B. Riley increased 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. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.79.

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.