Valmark Advisers Inc. Invests $431,000 in The Honest Company, Inc. (NASDAQ:HNST)

Valmark Advisers Inc. acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,559 shares of the company’s stock, valued at approximately $431,000. Valmark Advisers Inc. owned 0.14% of Honest as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pathstone Family Office LLC grew its holdings in Honest by 159.4% in the third quarter. Pathstone Family Office LLC now owns 64,860 shares of the company’s stock worth $82,000 after purchasing an additional 39,860 shares during the period. Green Alpha Advisors LLC grew its holdings in Honest by 62.5% in the fourth quarter. Green Alpha Advisors LLC now owns 409,899 shares of the company’s stock worth $1,353,000 after purchasing an additional 157,604 shares during the period. Barclays PLC acquired a new stake in Honest in the third quarter worth $110,000. GSA Capital Partners LLP grew its holdings in Honest by 25.3% in the third quarter. GSA Capital Partners LLP now owns 1,078,733 shares of the company’s stock worth $1,359,000 after purchasing an additional 217,721 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Honest in the third quarter worth $89,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HNST shares. Morgan Stanley raised their price target on shares of Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price objective on shares of Honest in a report on Wednesday, April 10th. Alliance Global Partners initiated coverage on shares of Honest in a report on Tuesday, February 6th. They set a “buy” rating and a $5.75 price objective for the company. Lake Street Capital initiated coverage on shares of Honest in a report on Thursday, April 4th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Loop Capital reduced their price objective on shares of Honest from $5.00 to $3.00 and set a “hold” rating for the company in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.55.

Honest Price Performance

Shares of NASDAQ HNST opened at $3.16 on Monday. The company has a 50-day moving average price of $3.64 and a 200-day moving average price of $2.80. The Honest Company, Inc. has a 1 year low of $1.06 and a 1 year high of $4.89. The stock has a market capitalization of $306.61 million, a P/E ratio of -7.52 and a beta of 1.82.

Honest (NASDAQ:HNST) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. The company had revenue of $90.26 million for the quarter, compared to analyst estimates of $83.54 million. As a group, equities research analysts anticipate that The Honest Company, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Honest

In related news, insider Jessica Warren sold 253,815 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $2.99, for a total transaction of $758,906.85. Following the transaction, the insider now directly owns 1,109,489 shares of the company’s stock, valued at $3,317,372.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Honest news, CEO Carla Vernon sold 209,160 shares of Honest stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total value of $870,105.60. Following the sale, the chief executive officer now owns 2,924,387 shares of the company’s stock, valued at $12,165,449.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Warren sold 253,815 shares of Honest stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $2.99, for a total transaction of $758,906.85. Following the completion of the sale, the insider now directly owns 1,109,489 shares in the company, valued at approximately $3,317,372.11. The disclosure for this sale can be found here. Insiders have sold 803,229 shares of company stock valued at $2,684,496 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

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.