Summit Global Investments Buys Shares of 63,951 The Honest Company, Inc. (NASDAQ:HNST)

Summit Global Investments purchased a new position in The Honest Company, Inc. (NASDAQ:HNST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 63,951 shares of the company’s stock, valued at approximately $443,000. Summit Global Investments owned 0.06% of Honest as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in Honest during the third quarter worth approximately $569,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Honest by 216.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after buying an additional 372,749 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Honest during the 3rd quarter worth approximately $103,000. Charles Schwab Investment Management Inc. increased its stake in shares of Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after acquiring an additional 7,379 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Honest by 98.7% during the 3rd quarter. Algert Global LLC now owns 126,122 shares of the company’s stock valued at $450,000 after acquiring an additional 62,650 shares during the period. 45.54% of the stock is owned by institutional investors.

Honest Price Performance

NASDAQ:HNST opened at $5.15 on Tuesday. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The company has a market cap of $560.89 million, a PE ratio of -128.75 and a beta of 2.45. The firm has a 50-day moving average of $5.75 and a 200-day moving average of $5.55.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. On average, equities research analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price on shares of Honest in a research note on Thursday, February 27th. Finally, Northland Securities upped their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.42.

Insider Activity at Honest

In related news, SVP Jonathan Mayle sold 37,481 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Winchell sold 20,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the sale, the insider now owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

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.