LPL Financial LLC Acquires 10,517 Shares of The Honest Company, Inc. (NASDAQ:HNST)

LPL Financial LLC raised its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 56.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,138 shares of the company’s stock after buying an additional 10,517 shares during the quarter. LPL Financial LLC’s holdings in Honest were worth $202,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ieq Capital LLC raised its stake in Honest by 61.3% during the 4th quarter. Ieq Capital LLC now owns 130,651 shares of the company’s stock valued at $905,000 after purchasing an additional 49,673 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Honest during the 4th quarter worth about $819,000. Barclays PLC raised its position in shares of Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after buying an additional 82,713 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Honest in the fourth quarter valued at about $756,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Honest in the fourth quarter valued at about $409,000. 45.54% of the stock is owned by institutional investors.

Insider Activity at Honest

In related news, insider Stephen Winchell sold 20,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the sale, the insider now owns 431,844 shares in the company, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares in the company, valued at approximately $1,498,693.80. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Honest Stock Performance

NASDAQ:HNST opened at $4.83 on Wednesday. The company has a 50-day moving average of $4.83 and a 200-day moving average of $5.69. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The company has a market capitalization of $532.41 million, a price-to-earnings ratio of -120.75 and a beta of 2.44.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $99.84 million during the quarter, compared to analysts’ expectations of $96.46 million. Sell-side analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.70.

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.