MetLife Investment Management LLC Purchases 15,930 Shares of The Honest Company, Inc. (NASDAQ:HNST)

MetLife Investment Management LLC raised its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 74.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,235 shares of the company’s stock after acquiring an additional 15,930 shares during the quarter. MetLife Investment Management LLC’s holdings in Honest were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HNST. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Honest by 216.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after purchasing an additional 372,749 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock valued at $784,000 after acquiring an additional 120,937 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Honest in the third quarter valued at about $843,000. Inspire Investing LLC acquired a new stake in shares of Honest in the third quarter valued at about $806,000. Finally, Algert Global LLC raised its holdings in Honest by 98.7% during the third quarter. Algert Global LLC now owns 126,122 shares of the company’s stock worth $450,000 after acquiring an additional 62,650 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Stock Performance

NASDAQ HNST opened at $7.89 on Tuesday. The stock has a market cap of $796.57 million, a PE ratio of -197.25 and a beta of 2.40. The firm has a 50-day moving average of $5.32 and a 200-day moving average of $4.10. The Honest Company, Inc. has a 52-week low of $2.24 and a 52-week high of $8.97.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Alliance Global Partners boosted their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group upped their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. B. Riley lifted their price objective on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities upped their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.21.

Insider Buying and Selling at Honest

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total transaction of $749,081.94. Following the transaction, the general counsel now owns 516,816 shares in the company, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carla Vernon sold 65,176 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,634,818 shares of company stock valued at $10,514,671 in the last three months. 8.60% of the stock is currently owned by company insiders.

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.