The Honest Company, Inc. (NASDAQ:HNST) Shares Bought by State Street Corp

State Street Corp increased its stake in The Honest Company, Inc. (NASDAQ:HNST) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,181,469 shares of the company’s stock after purchasing an additional 220,699 shares during the quarter. State Street Corp owned about 1.17% of Honest worth $4,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HNST. Creative Planning bought a new position in shares of Honest in the third quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Honest during the 3rd quarter valued at $40,000. Panagora Asset Management Inc. acquired a new position in shares of Honest during the 2nd quarter valued at $43,000. Castleview Partners LLC acquired a new stake in Honest in the 3rd quarter valued at about $71,000. Finally, US Bancorp DE bought a new position in shares of Honest during the 3rd quarter valued at about $78,000. Institutional investors own 45.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HNST. Northland Securities increased their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Alliance Global Partners raised 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 target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, December 17th. Finally, Telsey Advisory Group raised their price objective 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. Three equities research 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 company. According to data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and an average price target of $6.79.

Insider Activity at Honest

In other news, CFO David Loretta sold 27,004 shares of Honest 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 $191,728.40. Following the transaction, the chief financial officer now owns 960,753 shares of the company’s stock, valued at $6,821,346.30. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carla Vernon sold 65,176 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction 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 represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is currently owned by corporate insiders.

Honest Price Performance

HNST opened at $6.93 on Monday. The company has a market capitalization of $699.66 million, a PE ratio of -173.25 and a beta of 2.42. The business has a 50-day moving average of $6.26 and a 200-day moving average of $4.52. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

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.