ArrowMark Colorado Holdings LLC Has $11.30 Million Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

ArrowMark Colorado Holdings LLC increased its stake in shares of The Honest Company, Inc. (NASDAQ:HNST) by 6.4% in the third quarter, Holdings Channel reports. The firm owned 3,163,968 shares of the company’s stock after buying an additional 191,547 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Honest were worth $11,295,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HNST. Creative Planning bought a new position in Honest during the third quarter worth about $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Honest during the 3rd quarter worth approximately $40,000. Lazard Asset Management LLC bought a new position in Honest during the 1st quarter worth approximately $52,000. Panagora Asset Management Inc. acquired a new position in Honest during the second quarter valued at approximately $43,000. Finally, Castleview Partners LLC bought a new stake in Honest in the third quarter valued at approximately $71,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the 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 completion of the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Brendan Sheehey sold 92,138 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the transaction, the general counsel now directly owns 516,816 shares in the company, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,634,818 shares of company stock worth $10,514,671. Corporate insiders own 8.60% of the company’s stock.

Honest Stock Up 0.5 %

HNST stock opened at $8.33 on Tuesday. The business has a 50-day moving average of $4.77 and a 200-day moving average of $3.87. The Honest Company, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $8.97.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Alliance Global Partners lifted their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities lifted their target price on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. B. Riley raised their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research 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 research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Honest has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Honest Company 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.