Raymond James Financial Inc. Takes $336,000 Position in The Honest Company, Inc. (NASDAQ:HNST)

Raymond James Financial Inc. bought a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,500 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Honest during the fourth quarter worth $26,000. New York State Teachers Retirement System bought a new position in shares of Honest in the 4th quarter worth about $52,000. Zacks Investment Management acquired a new position in shares of Honest in the 3rd quarter valued at about $37,000. Entropy Technologies LP bought a new position in shares of Honest during the 4th quarter worth approximately $115,000. Finally, Olympiad Research LP acquired a new stake in shares of Honest during the 4th quarter worth approximately $168,000. Institutional investors own 45.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HNST shares. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.70.

Honest Trading Up 10.0 %

Honest stock opened at $4.62 on Thursday. The firm has a market capitalization of $503.16 million, a price-to-earnings ratio of -115.50 and a beta of 2.44. The firm’s fifty day moving average price is $5.29 and its two-hundred day moving average price is $5.59. The Honest Company, Inc. has a 1-year low of $2.40 and a 1-year high of $8.97.

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

Insider Activity at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction on 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 of the company’s stock, valued at $1,498,693.80. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Winchell sold 20,000 shares of the company’s 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 completion of the sale, the insider now owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is 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.