JPMorgan Chase & Co. Acquires 611,844 Shares of The Honest Company, Inc. (NASDAQ:HNST)

JPMorgan Chase & Co. lifted its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 377.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 773,806 shares of the company’s stock after acquiring an additional 611,844 shares during the period. JPMorgan Chase & Co. owned 0.77% of Honest worth $2,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HNST. Zacks Investment Management bought a new stake in shares of Honest in the 3rd quarter valued at approximately $37,000. Creative Planning bought a new stake in Honest in the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in Honest during the third quarter worth $40,000. Castleview Partners LLC bought a new position in Honest during the third quarter valued at $71,000. Finally, US Bancorp DE purchased a new stake in shares of Honest in the third quarter valued at $78,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Up 2.8 %

HNST opened at $6.58 on Tuesday. The stock’s fifty day moving average is $7.08 and its two-hundred day moving average is $4.95. The company has a market capitalization of $664.32 million, a P/E ratio of -164.50 and a beta of 2.45. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97.

Analyst Ratings Changes

A number of equities analysts recently commented on HNST shares. Alliance Global Partners lifted their price target 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 lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, December 17th. Telsey Advisory Group increased their price target on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Friday, January 10th. B. Riley boosted their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Honest has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Insider Transactions at Honest

In other Honest news, EVP Stephen Winchell sold 7,123 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 $50,573.30. Following the completion of the sale, the executive vice president now owns 382,613 shares in the company, valued at $2,716,552.30. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, 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.

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.