JPMorgan Chase & Co. Raises Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

JPMorgan Chase & Co. boosted its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 377.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 773,806 shares of the company’s stock after acquiring an additional 611,844 shares during the period. JPMorgan Chase & Co.’s holdings in Honest were worth $2,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in shares of Honest during the second quarter worth $695,000. Rhumbline Advisers raised its stake in Honest by 2,486.2% in the second quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock valued at $305,000 after buying an additional 100,441 shares during the last quarter. American Century Companies Inc. boosted its holdings in Honest by 41.5% in the second quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after acquiring an additional 32,586 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after acquiring an additional 382,418 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Honest by 117.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after acquiring an additional 846,300 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. B. Riley boosted their target price on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday, December 17th. Telsey Advisory Group boosted their price target on Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Friday, January 10th. Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Alliance Global Partners upped 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Insider Buying and Selling at Honest

In other Honest news, General Counsel Brendan Sheehey sold 107,653 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the transaction, the general counsel now owns 517,861 shares in the company, valued at approximately $3,630,205.61. This represents a 17.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now directly owns 1,170,058 shares in the company, valued at approximately $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is owned by company insiders.

Honest Stock Up 2.8 %

Shares of HNST opened at $6.58 on Tuesday. The company has a market capitalization of $664.32 million, a price-to-earnings ratio of -164.50 and a beta of 2.45. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The stock’s 50-day moving average price is $7.08 and its 200-day moving average price is $4.95.

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.