Envestnet Asset Management Inc. Sells 203,329 Shares of The Honest Company, Inc. $HNST

Envestnet Asset Management Inc. lowered its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 70.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,833 shares of the company’s stock after selling 203,329 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Honest worth $427,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Honest by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company’s stock valued at $24,481,000 after acquiring an additional 61,299 shares during the period. Nuveen LLC bought a new stake in Honest in the 1st quarter valued at $10,554,000. Millennium Management LLC grew its position in Honest by 16.4% in the 1st quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after purchasing an additional 272,765 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Honest by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock worth $5,002,000 after purchasing an additional 163,380 shares during the period. Finally, Strs Ohio bought a new position in shares of Honest during the 1st quarter worth about $3,550,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Stock Up 2.3%

Shares of HNST stock opened at $2.69 on Thursday. The company has a market capitalization of $300.72 million, a P/E ratio of 44.83 and a beta of 2.28. The Honest Company, Inc. has a 12-month low of $2.31 and a 12-month high of $8.87. The firm has a 50-day moving average price of $3.35 and a 200 day moving average price of $4.13.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Honest had a net margin of 1.85% and a return on equity of 3.86%. The company had revenue of $92.57 million during the quarter, compared to analyst estimates of $99.43 million. Honest has set its FY 2025 guidance at EPS. As a group, research analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

HNST has been the subject of several research reports. Telsey Advisory Group reduced their target price on shares of Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. Morgan Stanley reduced their price objective on Honest from $4.25 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 19th. Zacks Research lowered Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings lowered Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Lake Street Capital cut Honest from a “buy” rating to a “hold” rating and set a $3.00 target price for the company. in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.10.

Insiders Place Their Bets

In other news, insider Stephen Winchell sold 10,595 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $27,547.00. Following the completion of the sale, the insider directly owned 399,662 shares in the company, valued at approximately $1,039,121.20. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carla Vernon sold 97,505 shares of Honest stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $253,513.00. Following the completion of the transaction, the chief executive officer directly owned 2,901,488 shares of the company’s stock, valued at $7,543,868.80. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 8.90% of the company’s stock.

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.