Inspire Investing LLC Makes New $806,000 Investment in The Honest Company, Inc. (NASDAQ:HNST)

Inspire Investing LLC purchased a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) during the 3rd quarter, Holdings Channel reports. The fund purchased 225,816 shares of the company’s stock, valued at approximately $806,000.

Several other hedge funds also recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Honest in the first quarter valued at approximately $27,000. Lazard Asset Management LLC acquired a new stake in shares of Honest in the 1st quarter valued at approximately $52,000. Panagora Asset Management Inc. bought a new position in shares of Honest in the second quarter valued at $43,000. CWM LLC increased its holdings in Honest by 279,400.0% during the third quarter. CWM LLC now owns 22,360 shares of the company’s stock worth $80,000 after buying an additional 22,352 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Honest during the first quarter worth $93,000. Institutional investors own 45.54% of the company’s stock.

Insider Buying and Selling

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Honest news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,531,187 shares of company stock valued at $9,018,480. 8.60% of the stock is owned by company insiders.

Honest Trading Up 4.2 %

Honest stock opened at $3.72 on Tuesday. The company has a market capitalization of $366.93 million, a price-to-earnings ratio of -16.17 and a beta of 1.87. The stock’s 50 day moving average is $3.89 and its 200-day moving average is $3.37. The Honest Company, Inc. has a 12 month low of $1.07 and a 12 month high of $4.89.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Honest had a negative return on equity of 10.00% and a negative net margin of 3.50%. The firm had revenue of $93.05 million for the quarter, compared to analysts’ expectations of $87.63 million. During the same quarter last year, the business earned ($0.14) EPS. As a group, equities research analysts predict that The Honest Company, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HNST shares. B. Riley started coverage on shares of Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price objective for the company. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Loop Capital raised Honest from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Tuesday, June 25th. Finally, Northland Securities assumed coverage on Honest in a research report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price objective for the company. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.04.

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.