Allspring Global Investments Holdings LLC Cuts Stock Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Allspring Global Investments Holdings LLC lessened its stake in The Honest Company, Inc. (NASDAQ:HNST) by 81.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,790 shares of the company’s stock after selling 915,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Honest were worth $666,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pathstone Family Office LLC boosted its holdings in Honest by 159.4% in the third quarter. Pathstone Family Office LLC now owns 64,860 shares of the company’s stock valued at $82,000 after acquiring an additional 39,860 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Honest in the 3rd quarter worth about $89,000. Barclays PLC acquired a new position in shares of Honest in the 3rd quarter valued at about $110,000. Raymond James & Associates grew its holdings in shares of Honest by 62.6% during the 4th quarter. Raymond James & Associates now owns 34,511 shares of the company’s stock worth $114,000 after purchasing an additional 13,285 shares during the period. Finally, Wade G W & Inc. increased its position in Honest by 69.2% during the 3rd quarter. Wade G W & Inc. now owns 185,605 shares of the company’s stock worth $234,000 after purchasing an additional 75,935 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Loop Capital reduced their price target on shares of Honest from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Lake Street Capital initiated coverage on shares of Honest in a research report on Thursday, April 4th. They set a “buy” rating and a $6.00 price target for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective on shares of Honest in a research report on Wednesday, April 10th. Morgan Stanley boosted their price objective on Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Alliance Global Partners initiated coverage on Honest in a research note on Tuesday, February 6th. They issued a “buy” rating and a $5.75 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.55.

Honest Stock Down 1.6 %

Shares of HNST opened at $3.06 on Thursday. The firm has a market cap of $296.91 million, a price-to-earnings ratio of -7.29 and a beta of 1.83. The business’s 50 day moving average is $3.64 and its two-hundred day moving average is $2.76. The Honest Company, Inc. has a 52-week low of $1.06 and a 52-week high of $4.89.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. The business had revenue of $90.26 million during the quarter, compared to analyst estimates of $83.54 million. On average, equities analysts expect that The Honest Company, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carla Vernon sold 209,160 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total value of $870,105.60. Following the sale, the chief executive officer now owns 2,924,387 shares in the company, valued at approximately $12,165,449.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Stephen Winchell sold 19,665 shares of Honest stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $63,714.60. Following the completion of the transaction, the executive vice president now owns 428,957 shares in the company, valued at approximately $1,389,820.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Carla Vernon sold 209,160 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.16, for a total value of $870,105.60. Following the sale, the chief executive officer now directly owns 2,924,387 shares in the company, valued at $12,165,449.92. The disclosure for this sale can be found here. Insiders sold a total of 803,229 shares of company stock valued at $2,684,496 in the last ninety days. Corporate insiders own 26.20% of the company’s stock.

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.