JPMorgan Chase & Co. Buys 435,723 Shares of The Honest Company, Inc. (NASDAQ:HNST)

JPMorgan Chase & Co. boosted its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 56.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,209,529 shares of the company’s stock after purchasing an additional 435,723 shares during the period. JPMorgan Chase & Co. owned about 1.20% of Honest worth $8,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in 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 buying an additional 7,379 shares during the last quarter. FMR LLC raised its holdings in shares of Honest by 12.8% in the third quarter. FMR LLC now owns 219,742 shares of the company’s stock valued at $784,000 after purchasing an additional 24,900 shares during the last quarter. State Street Corp raised its holdings in shares of Honest by 23.0% in the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after purchasing an additional 220,699 shares during the last quarter. Barclays PLC lifted its position in shares of Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock worth $394,000 after purchasing an additional 82,713 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Honest by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after purchasing an additional 65,995 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price target on shares of Honest in a research report on Thursday, February 27th. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Honest presently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Honest Stock Up 0.5 %

NASDAQ:HNST opened at $4.45 on Wednesday. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97. The firm has a market capitalization of $484.65 million, a price-to-earnings ratio of -111.25 and a beta of 2.44. The stock’s 50 day moving average price is $5.14 and its two-hundred day moving average price is $5.62.

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

Insiders Place Their Bets

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the stock in a transaction that occurred 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 owns 307,740 shares in the company, valued at $1,498,693.80. This represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares of the company’s stock, valued at $2,150,583.12. This represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% 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.