Green Alpha Advisors LLC Sells 85,792 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Green Alpha Advisors LLC reduced its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,347 shares of the company’s stock after selling 85,792 shares during the period. Honest accounts for about 1.6% of Green Alpha Advisors LLC’s holdings, making the stock its 14th biggest position. Green Alpha Advisors LLC owned approximately 0.28% of Honest worth $1,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HNST. Dynamic Technology Lab Private Ltd increased its stake in Honest by 7.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after buying an additional 5,330 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Honest by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after acquiring an additional 7,379 shares during the last quarter. XTX Topco Ltd lifted its holdings in Honest by 6.4% during the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after acquiring an additional 8,282 shares during the period. Zacks Investment Management bought a new stake in shares of Honest during the 3rd quarter worth $37,000. Finally, Creative Planning purchased a new stake in Honest during the third quarter worth about $39,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Stock Performance

Honest stock opened at $5.90 on Monday. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The firm’s fifty day moving average price is $6.83 and its 200-day moving average price is $4.81. The stock has a market cap of $595.67 million, a P/E ratio of -147.50 and a beta of 2.45.

Analyst Upgrades and Downgrades

Several research firms recently commented on HNST. B. Riley upped their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Alliance Global Partners upped their price target on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group lifted their price objective on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Friday. Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Tuesday, December 17th. Finally, Northland Securities lifted their target price on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Honest currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Insider Buying and Selling at Honest

In related news, EVP Stephen Winchell sold 7,123 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $50,573.30. Following the transaction, the executive vice president now directly owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brendan Sheehey sold 8,392 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $59,583.20. Following the completion of the sale, the general counsel now directly owns 516,816 shares of the company’s stock, valued at approximately $3,669,393.60. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock worth $5,975,421 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

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.