Entropy Technologies LP Makes New Investment in The Honest Company, Inc. (NASDAQ:HNST)

Entropy Technologies LP purchased a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,600 shares of the company’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its holdings in Honest by 7.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after acquiring an additional 5,330 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Honest by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after acquiring an additional 7,379 shares in the last quarter. Zacks Investment Management acquired a new position in Honest during the 3rd quarter worth approximately $37,000. Creative Planning acquired a new position in Honest during the 3rd quarter worth approximately $39,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Honest during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on HNST shares. Telsey Advisory Group upped their target price on shares of Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Friday, January 10th. Northland Securities upped their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Tuesday, December 17th. Alliance Global Partners upped their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Honest currently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Price Performance

HNST stock opened at $6.23 on Friday. The company has a fifty day moving average price of $6.54 and a 200 day moving average price of $5.29. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97. The company has a market cap of $628.98 million, a price-to-earnings ratio of -155.75 and a beta of 2.43.

Insider Activity at Honest

In other Honest news, General Counsel Brendan Sheehey sold 107,653 shares of the company’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 completion of the transaction, the general counsel now owns 517,861 shares in the company, valued at approximately $3,630,205.61. This represents a 17.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Winchell sold 7,123 shares of the company’s stock in a transaction on 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 owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock worth $5,975,421 in the last 90 days. 8.60% of the stock is owned by insiders.

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.