Hillsdale Investment Management Inc. Acquires Shares of 932,600 The Honest Company, Inc. (NASDAQ:HNST)

Hillsdale Investment Management Inc. acquired a new stake in The Honest Company, Inc. (NASDAQ:HNST) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 932,600 shares of the company’s stock, valued at approximately $3,777,000. Hillsdale Investment Management Inc. owned approximately 0.96% of Honest as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Honest during the first quarter worth approximately $359,000. Vanguard Group Inc. grew its position in shares of Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Honest during the first quarter worth approximately $93,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Honest during the first quarter worth approximately $161,000. Finally, Echo Wealth Management LLC acquired a new stake in shares of Honest during the first quarter worth approximately $101,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insider Buying and Selling at Honest

In other Honest news, insider Katherine Barton sold 67,930 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total value of $188,166.10. Following the sale, the insider now directly owns 933,005 shares in the company, valued at $2,584,423.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Katherine Barton sold 67,930 shares of Honest stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $188,166.10. Following the sale, the insider now directly owns 933,005 shares in the company, valued at $2,584,423.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Thomas Sternweis sold 10,047 shares of Honest stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $27,830.19. Following the sale, the senior vice president now owns 237,211 shares in the company, valued at $657,074.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,160 shares of company stock worth $379,933. 8.60% of the stock is owned by insiders.

Honest Price Performance

HNST traded up $0.18 during trading hours on Monday, hitting $3.81. 1,696,547 shares of the stock were exchanged, compared to its average volume of 1,053,588. The stock has a market cap of $375.82 million, a price-to-earnings ratio of -16.56 and a beta of 1.85. The Honest Company, Inc. has a 12 month low of $1.06 and a 12 month high of $4.89. The stock has a 50-day simple moving average of $2.87 and a 200-day simple moving average of $3.17.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The company had revenue of $86.22 million for the quarter, compared to analysts’ expectations of $83.79 million. Honest had a negative return on equity of 17.44% and a negative net margin of 6.27%. Sell-side analysts expect that The Honest Company, Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on HNST. Loop Capital upgraded Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Tuesday, June 25th. Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Honest in a research note on Thursday, May 9th. Finally, Lake Street Capital began coverage on Honest in a research note on Thursday, April 4th. They set a “buy” rating and a $6.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.55.

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.