Virtu Financial LLC Makes New $219,000 Investment in The Honest Company, Inc. (NASDAQ:HNST)

Virtu Financial LLC acquired a new position in The Honest Company, Inc. (NASDAQ:HNST) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,235 shares of the company’s stock, valued at approximately $219,000. Virtu Financial LLC owned about 0.06% of Honest as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Zacks Investment Management purchased a new stake in shares of Honest in the 3rd quarter valued at $37,000. Creative Planning purchased a new stake in Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Honest during the 3rd quarter worth approximately $40,000. Panagora Asset Management Inc. acquired a new stake in Honest during the 2nd quarter worth approximately $43,000. Finally, Castleview Partners LLC purchased a new position in Honest in the 3rd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Performance

Honest stock opened at $6.52 on Thursday. The company has a market capitalization of $658.27 million, a P/E ratio of -163.00 and a beta of 2.42. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The stock has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $4.30.

Analyst Ratings Changes

Several analysts have recently issued reports on HNST shares. Alliance Global Partners increased their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities boosted their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.79.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 107,653 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.01, for a total transaction of $754,647.53. Following the transaction, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 799,818 shares of company stock valued at $5,975,421 over the last quarter. Company insiders own 8.60% of the company’s stock.

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.