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

Victory Capital Management Inc. raised its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 869.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,546,391 shares of the company’s stock after purchasing an additional 1,386,961 shares during the quarter. Victory Capital Management Inc. owned 1.53% of Honest worth $10,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Honest in the 4th quarter valued at approximately $26,000. Zacks Investment Management purchased a new stake in shares of Honest during the 3rd quarter worth approximately $37,000. Creative Planning purchased a new stake in shares of Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest during the 3rd quarter worth approximately $40,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Honest during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Performance

HNST stock opened at $4.84 on Friday. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The stock’s 50 day moving average price is $5.93 and its 200 day moving average price is $5.50. The firm has a market cap of $527.12 million, a P/E ratio of -121.00 and a beta of 2.45.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. On average, research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

HNST has been the topic of several research analyst reports. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, December 17th. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price target on shares of Honest in a research note on Thursday, February 27th. Finally, Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.42.

Insider Buying and Selling at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. The trade was a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by 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.