US Bancorp DE Makes New $78,000 Investment in The Honest Company, Inc. (NASDAQ:HNST)

US Bancorp DE acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,730 shares of the company’s stock, valued at approximately $78,000.

A number of other large investors have also recently made changes to their positions in HNST. Hillsdale Investment Management Inc. acquired a new position in Honest during the 1st quarter worth approximately $3,777,000. Renaissance Technologies LLC increased its holdings in Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after buying an additional 846,300 shares during the last quarter. Acadian Asset Management LLC raised its stake in Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after buying an additional 627,464 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Honest by 973.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock worth $1,742,000 after buying an additional 390,022 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Honest by 68.1% during the 2nd 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 in the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred 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 trade represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,461,187 shares of company stock valued at $8,739,880. Insiders own 8.60% of the company’s stock.

Honest Price Performance

HNST stock opened at $6.91 on Friday. The Honest Company, Inc. has a 12 month low of $1.40 and a 12 month high of $7.14. The company has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. The company has a fifty day moving average price of $3.96 and a 200 day moving average price of $3.52.

Analyst Ratings Changes

HNST has been the subject of several recent analyst reports. Telsey Advisory Group boosted their target price on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday. Northland Securities lifted their price target on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Alliance Global Partners upped their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

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.