Valmark Advisers Inc. Sells 4,151 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Valmark Advisers Inc. reduced its position in The Honest Company, Inc. (NASDAQ:HNST) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 161,492 shares of the company’s stock after selling 4,151 shares during the period. Valmark Advisers Inc. owned 0.16% of Honest worth $472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HNST. Panagora Asset Management Inc. purchased a new position in shares of Honest in the second quarter worth about $43,000. Bank of New York Mellon Corp bought a new position in Honest in the 2nd quarter worth approximately $695,000. Echo Wealth Management LLC grew its stake in Honest by 206.6% in the 2nd quarter. Echo Wealth Management LLC now owns 76,659 shares of the company’s stock valued at $224,000 after buying an additional 51,659 shares in the last quarter. SG Americas Securities LLC raised its holdings in Honest by 123.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,194 shares of the company’s stock valued at $149,000 after acquiring an additional 28,290 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Honest by 562.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 98,760 shares of the company’s stock valued at $288,000 after acquiring an additional 83,848 shares during the period. 45.54% of the stock is currently owned by institutional investors.

Honest Stock Up 7.4 %

Honest stock opened at $4.67 on Tuesday. The stock has a market cap of $460.64 million, a price-to-earnings ratio of -20.30 and a beta of 1.86. The business has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $3.38. The Honest Company, Inc. has a 52 week low of $1.06 and a 52 week high of $4.89.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $93.05 million during the quarter, compared to analyst estimates of $87.63 million. Honest had a negative return on equity of 10.00% and a negative net margin of 3.50%. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. On average, research analysts anticipate that The Honest Company, Inc. will post -0.1 earnings per share for the current year.

Insider Transactions at Honest

In other news, Director James D. White sold 70,000 shares of Honest stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total transaction of $278,600.00. Following the completion of the sale, the director now directly owns 309,244 shares of the company’s stock, valued at approximately $1,230,791.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James D. White sold 70,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $3.98, for a total transaction of $278,600.00. Following the transaction, the director now directly owns 309,244 shares in the company, valued at approximately $1,230,791.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brendan Sheehey sold 8,176 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $34,993.28. Following the completion of the sale, the general counsel now owns 517,861 shares of the company’s stock, valued at approximately $2,216,445.08. The disclosure for this sale can be found here. Insiders have sold 231,187 shares of company stock valued at $968,480 in the last quarter. Insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

HNST has been the subject of a number of analyst reports. Loop Capital raised Honest from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Tuesday, June 25th. Northland Securities initiated coverage on Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 target price for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Honest in a research report on Thursday, May 9th. Finally, Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two equities research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.79.

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.