Raymond James Financial Inc. Takes $336,000 Position in The Honest Company, Inc. (NASDAQ:HNST)

Raymond James Financial Inc. bought a new position in The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 48,500 shares of the company’s stock, valued at approximately $336,000.

Several other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Honest during the 4th quarter valued at about $26,000. Zacks Investment Management purchased a new stake in shares of Honest during the 3rd quarter valued at $37,000. New York State Teachers Retirement System purchased a new position in Honest in the fourth quarter worth $52,000. Entropy Technologies LP purchased a new stake in Honest during the fourth quarter valued at about $115,000. Finally, Franklin Resources Inc. bought a new stake in Honest during the third quarter worth about $164,000. 45.54% of the stock is owned by institutional investors.

Honest Price Performance

HNST opened at $4.62 on Thursday. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The stock’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $5.59. The firm has a market cap of $503.16 million, a price-to-earnings ratio of -115.50 and a beta of 2.44.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $99.84 million for the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, sell-side analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current year.

Insider Activity

In other news, SVP Jonathan Mayle sold 37,481 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total transaction of $182,532.47. Following the transaction, the senior vice president now directly owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the sale, the insider now directly owns 431,844 shares of the company’s stock, valued at $2,150,583.12. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

HNST has been the topic of a number of research reports. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.70.

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.