Algert Global LLC Purchases 62,650 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Algert Global LLC boosted its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 98.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,122 shares of the company’s stock after buying an additional 62,650 shares during the period. Algert Global LLC’s holdings in Honest were worth $450,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Honest by 216.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock valued at $1,947,000 after purchasing an additional 372,749 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Honest by 122.5% during the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock valued at $784,000 after purchasing an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Honest in the 3rd quarter worth $843,000. Inspire Investing LLC bought a new stake in shares of Honest in the 3rd quarter worth about $806,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Analyst Ratings Changes

HNST has been the subject of several recent research reports. Telsey Advisory Group lifted their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Alliance Global Partners boosted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Capmk upgraded Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities boosted their price objective on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, B. Riley raised their target price on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Honest has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Price Performance

HNST stock opened at $8.29 on Friday. The Honest Company, Inc. has a 12 month low of $2.02 and a 12 month high of $8.97. The firm’s 50-day moving average is $4.77 and its 200 day moving average is $3.86. The company has a market capitalization of $836.96 million, a PE ratio of -207.25 and a beta of 1.85.

Insider Transactions at Honest

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total transaction of $749,081.94. Following the transaction, the general counsel now directly owns 516,816 shares in the company, valued at $4,201,714.08. This represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,634,818 shares of company stock valued at $10,514,671. 8.60% of the stock is currently owned by company insiders.

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.