Connor Clark & Lunn Investment Management Ltd. Purchases 372,749 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 216.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 545,323 shares of the company’s stock after acquiring an additional 372,749 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.54% of Honest worth $1,947,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HNST. Renaissance Technologies LLC lifted its stake in shares of Honest by 117.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after purchasing an additional 846,300 shares during the period. Acadian Asset Management LLC lifted its stake in Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after buying an additional 627,464 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Honest by 973.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock worth $1,742,000 after buying an additional 390,022 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Honest by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Northland Securities increased their target price on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Alliance Global Partners raised their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group boosted their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Up 5.2 %

Shares of Honest stock opened at $8.57 on Tuesday. The Honest Company, Inc. has a 52 week low of $1.83 and a 52 week high of $8.97. The business has a 50 day moving average price of $4.41 and a 200-day moving average price of $3.73. The company has a market cap of $865.23 million, a PE ratio of -214.25 and a beta of 1.85.

Insider Activity at Honest

In other Honest news, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the sale, the executive vice president now owns 382,613 shares in the company, valued at approximately $2,716,552.30. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James D. White sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.19, for a total value of $179,750.00. Following the completion of the transaction, the director now owns 284,244 shares in the company, valued at $2,043,714.36. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,542,680 shares of company stock valued at $9,765,589. 8.60% of the stock is owned by 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.