Venture Manageme Institutional Sells 236,747 Shares of The Honest Company, Inc. (NASDAQ:HNST) Stock

The Honest Company, Inc. (NASDAQ:HNST) major shareholder Venture Manageme Institutional sold 236,747 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1.53, for a total transaction of $362,222.91. Following the completion of the transaction, the insider now directly owns 9,487,703 shares of the company’s stock, valued at approximately $14,516,185.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Venture Manageme Institutional also recently made the following trade(s):

• On Monday, November 13th, Venture Manageme Institutional sold 64,196 shares of Honest stock. The shares were sold at an average price of $1.41, for a total value of $90,516.36.
• On Thursday, November 9th, Venture Manageme Institutional sold 151,741 shares of Honest stock. The stock was sold at an average price of $1.56, for a total value of $236,715.96.

Honest Price Performance

NASDAQ:HNST opened at $1.43 on Friday. The business’s fifty day moving average price is $1.26 and its 200 day moving average price is $1.47. The Honest Company, Inc. has a 12 month low of $1.06 and a 12 month high of $3.75. The firm has a market capitalization of $136.52 million, a PE ratio of -2.51 and a beta of 0.47.

Institutional Investors Weigh In On Honest

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its stake in shares of Honest by 25.3% in the third quarter. GSA Capital Partners LLP now owns 1,078,733 shares of the company’s stock valued at $1,359,000 after purchasing an additional 217,721 shares during the period. AQR Capital Management LLC boosted its stake in shares of Honest by 372.8% during the 3rd quarter. AQR Capital Management LLC now owns 214,034 shares of the company’s stock worth $270,000 after acquiring an additional 168,765 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Honest in the 3rd quarter worth approximately $41,000. FMR LLC boosted its position in Honest by 18.5% during the third quarter. FMR LLC now owns 194,523 shares of the company’s stock worth $245,000 after purchasing an additional 30,353 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Honest in the third quarter valued at $89,000. 37.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HNST. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Honest in a research note on Wednesday, September 6th. Morgan Stanley decreased their price target on shares of Honest from $2.00 to $1.85 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th.

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.