Mainstream Capital Management LLC Buys New Stake in The Honest Company, Inc. (NASDAQ:HNST)

Mainstream Capital Management LLC bought a new stake in The Honest Company, Inc. (NASDAQ:HNST) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 236,061 shares of the company’s stock, valued at approximately $843,000. Mainstream Capital Management LLC owned 0.24% of Honest at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Honest in the 1st quarter valued at $27,000. Creative Planning acquired a new position in Honest during the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Honest during the third quarter worth $40,000. Panagora Asset Management Inc. acquired a new position in Honest during the second quarter worth $43,000. Finally, Lazard Asset Management LLC acquired a new position in Honest during the first quarter worth $52,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Honest

In related news, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at $1,775,070.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,531,187 shares of company stock valued at $9,018,480. 8.60% of the stock is owned by company insiders.

Honest Stock Up 1.9 %

Honest stock opened at $4.22 on Friday. The Honest Company, Inc. has a 52-week low of $1.20 and a 52-week high of $4.89. The firm has a market capitalization of $422.35 million, a price-to-earnings ratio of -32.62 and a beta of 1.85. The company has a fifty day simple moving average of $3.82 and a 200-day simple moving average of $3.41.

Honest (NASDAQ:HNST) last released its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. The business had revenue of $93.05 million during the quarter, compared to analyst estimates of $87.63 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. On average, research analysts anticipate that The Honest Company, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HNST. Northland Securities began coverage on shares of Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective for the company. B. Riley began coverage on shares of Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective for the company. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.04.

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.