Sei Investments Co. Makes New $218,000 Investment in The Honest Company, Inc. (NASDAQ:HNST)

Sei Investments Co. purchased a new position in The Honest Company, Inc. (NASDAQ:HNST) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 74,569 shares of the company’s stock, valued at approximately $218,000. Sei Investments Co. owned 0.08% of Honest at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Honest during the first quarter worth about $27,000. Panagora Asset Management Inc. bought a new stake in Honest during the second quarter worth about $43,000. Lazard Asset Management LLC purchased a new position in shares of Honest in the first quarter worth about $52,000. SG Americas Securities LLC purchased a new position in Honest during the 1st quarter valued at about $93,000. Finally, Cannon Global Investment Management LLC purchased a new position in shares of Honest during the 1st quarter worth approximately $122,000. 45.54% of the stock is owned by institutional investors.

Insider Transactions at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Brendan Sheehey sold 8,176 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the sale, the general counsel now directly owns 517,861 shares of the company’s stock, valued at $2,216,445.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,531,187 shares of company stock valued at $9,018,480. 8.60% of the stock is currently owned by company insiders.

Honest Stock Down 0.6 %

HNST opened at $3.57 on Friday. The firm has a 50-day simple moving average of $3.88 and a two-hundred 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. The company has a market capitalization of $352.14 million, a PE ratio of -15.52 and a beta of 1.87.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Loop Capital upgraded Honest from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Tuesday, June 25th. B. Riley began coverage on Honest in a report on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price on the stock. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Northland Securities began coverage on shares of Honest in a research note on Tuesday, August 6th. They set an “outperform” rating and a $6.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.04.

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.