Voya Investment Management LLC Has $249,000 Position in The Honest Company, Inc. $HNST

Voya Investment Management LLC lifted its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,958 shares of the company’s stock after buying an additional 10,557 shares during the period. Voya Investment Management LLC’s holdings in Honest were worth $249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Honest by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company’s stock worth $24,481,000 after buying an additional 61,299 shares during the period. Victory Capital Management Inc. raised its holdings in Honest by 98.8% during the first quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company’s stock worth $14,445,000 after acquiring an additional 1,527,080 shares in the last quarter. Nuveen LLC bought a new stake in Honest during the first quarter worth about $10,554,000. Millennium Management LLC raised its holdings in Honest by 16.4% during the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after acquiring an additional 272,765 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Honest by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock worth $5,002,000 after acquiring an additional 163,380 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research lowered Honest from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Telsey Advisory Group dropped their target price on Honest from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday, August 7th. Finally, Morgan Stanley dropped their target price on Honest from $5.50 to $4.25 and set an “equal weight” rating on the stock in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.96.

Insider Activity

In other news, CEO Carla Vernon sold 99,328 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $362,547.20. Following the transaction, the chief executive officer owned 2,998,993 shares of the company’s stock, valued at approximately $10,946,324.45. This represents a 3.21% 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 10,841 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $39,569.65. Following the sale, the insider directly owned 410,257 shares in the company, valued at $1,497,438.05. This represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,890 shares of company stock valued at $481,399. 8.90% of the stock is owned by insiders.

Honest Trading Down 1.3%

Honest stock opened at $3.71 on Tuesday. The Honest Company, Inc. has a 12 month low of $3.32 and a 12 month high of $8.97. The stock’s 50 day moving average is $4.10 and its 200-day moving average is $4.55. The company has a market capitalization of $412.81 million, a price-to-earnings ratio of 74.21 and a beta of 2.33.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Honest had a net margin of 1.66% and a return on equity of 3.84%. The firm had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.18 million. As a group, equities research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

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.