Harbor Capital Advisors Inc. Acquires 120,937 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Harbor Capital Advisors Inc. raised its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 122.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 219,697 shares of the company’s stock after purchasing an additional 120,937 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Honest were worth $784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HNST. EntryPoint Capital LLC bought a new stake in shares of Honest during the 1st quarter valued at $27,000. Creative Planning bought a new stake in shares of Honest during the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest in the 3rd quarter valued at $40,000. Panagora Asset Management Inc. bought a new stake in shares of Honest in the 2nd quarter valued at $43,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Honest in the 1st quarter valued at $52,000. Institutional investors own 45.54% of the company’s stock.

Insider Transactions at Honest

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities assumed coverage on shares of Honest in a research report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price objective for the company. Finally, B. Riley assumed coverage on shares of Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.04.

Honest Trading Up 3.8 %

Shares of NASDAQ HNST opened at $4.14 on Thursday. The firm has a market cap of $414.33 million, a PE ratio of -31.85 and a beta of 1.85. The Honest Company, Inc. has a 1-year low of $1.20 and a 1-year high of $4.89. The company has a fifty day moving average price of $3.82 and a 200 day moving average price of $3.40.

Honest (NASDAQ:HNST) last announced its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $93.05 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned ($0.14) EPS. Equities research analysts forecast that The Honest Company, Inc. will post -0.1 EPS for the current year.

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.