Hussman Strategic Advisors Inc. Takes $1.02 Million Position in The Honest Company, Inc. (NASDAQ:HNST)

Hussman Strategic Advisors Inc. purchased a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 147,000 shares of the company’s stock, valued at approximately $1,019,000.

Other institutional investors also recently modified their holdings of the company. Zacks Investment Management bought a new stake in shares of Honest in the third quarter valued at about $37,000. Creative Planning bought a new stake in Honest during the third quarter worth about $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in Honest during the third quarter worth about $40,000. New York State Teachers Retirement System bought a new stake in Honest during the fourth quarter worth about $52,000. Finally, US Bancorp DE bought a new stake in Honest during the third quarter worth about $78,000. 45.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the sale, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brendan Sheehey sold 92,138 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total value of $749,081.94. Following the completion of the transaction, the general counsel now directly owns 516,816 shares in the company, valued at $4,201,714.08. The trade was a 15.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Honest Stock Down 2.6 %

NASDAQ:HNST opened at $6.03 on Friday. The stock’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $5.36. The firm has a market capitalization of $608.79 million, a price-to-earnings ratio of -150.75 and a beta of 2.43. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HNST shares. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 target price on shares of Honest in a report on Wednesday. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Tuesday, December 17th. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. B. Riley upped their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities upped their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.93.

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.