Canada Pension Plan Investment Board Invests $1.75 Million in The Honest Company, Inc. (NASDAQ:HNST)

Canada Pension Plan Investment Board purchased a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 253,100 shares of the company’s stock, valued at approximately $1,754,000.

Other institutional investors also recently bought and sold shares of the company. EAM Investors LLC purchased a new position in shares of Honest during the 4th quarter worth approximately $1,187,000. PEAK6 LLC bought a new stake in shares of Honest during the fourth quarter valued at approximately $653,000. Walleye Trading LLC purchased a new stake in Honest in the fourth quarter worth $109,000. Walleye Capital LLC raised its holdings in Honest by 40.4% in the fourth quarter. Walleye Capital LLC now owns 102,418 shares of the company’s stock worth $710,000 after purchasing an additional 29,485 shares in the last quarter. Finally, Mariner LLC bought a new position in Honest in the fourth quarter worth $175,000. 45.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 target price on shares of Honest in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Honest currently has an average rating of “Moderate Buy” and an average target price of $7.70.

Insiders Place Their Bets

In related news, insider Stephen Winchell sold 20,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the sale, the insider now directly owns 431,844 shares of the company’s stock, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now directly owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. This trade represents a 10.86 % 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 Performance

Shares of HNST stock opened at $4.51 on Thursday. The company has a market capitalization of $490.64 million, a price-to-earnings ratio of -112.63 and a beta of 2.44. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The company’s 50-day moving average is $4.94 and its 200 day moving average is $5.64.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $99.84 million during the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

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.