Valmark Advisers Inc. Cuts Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

Valmark Advisers Inc. decreased its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 37.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 102,504 shares of the company’s stock after selling 60,511 shares during the period. Valmark Advisers Inc.’s holdings in Honest were worth $482,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HNST. D. E. Shaw & Co. Inc. grew its stake in shares of Honest by 589.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock worth $16,616,000 after acquiring an additional 2,049,981 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Honest by 869.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after acquiring an additional 1,386,961 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after acquiring an additional 1,052,305 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Honest by 103.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company’s stock worth $14,185,000 after acquiring an additional 1,041,040 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Honest by 2,035.9% during the fourth quarter. Invesco Ltd. now owns 779,998 shares of the company’s stock worth $5,405,000 after acquiring an additional 743,479 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Insider Activity at Honest

In other Honest news, General Counsel Brendan Sheehey sold 12,017 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $63,930.44. Following the completion of the transaction, the general counsel now directly owns 580,647 shares of the company’s stock, valued at approximately $3,089,042.04. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carla Vernon sold 98,950 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $526,414.00. Following the completion of the transaction, the chief executive officer now directly owns 3,098,321 shares of the company’s stock, valued at $16,483,067.72. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,726 shares of company stock worth $881,662 over the last quarter. Insiders own 8.90% of the company’s stock.

Analyst Ratings Changes

Separately, Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of Honest in a research note on Thursday, May 8th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Honest Stock Up 2.1%

Shares of NASDAQ HNST opened at $4.95 on Wednesday. The business’s 50 day moving average price is $4.84 and its 200 day moving average price is $5.48. The firm has a market cap of $545.67 million, a P/E ratio of -247.50 and a beta of 2.39. The Honest Company, Inc. has a 52 week low of $2.55 and a 52 week high of $8.97.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $97.25 million for the quarter, compared to analyst estimates of $92.46 million. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. As a group, research analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

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.