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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Honest by 20.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company’s stock valued at $16,439,000 after buying an additional 398,603 shares during the period. Legal & General Group Plc lifted its stake in shares of Honest by 30.1% during the 4th quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock worth $184,000 after acquiring an additional 6,146 shares during the last quarter. Invesco Ltd. boosted its holdings in Honest by 2,035.9% during the 4th quarter. Invesco Ltd. now owns 779,998 shares of the company’s stock valued at $5,405,000 after acquiring an additional 743,479 shares during the period. Polymer Capital Management US LLC bought a new position in Honest in the 4th quarter valued at $144,000. Finally, Russell Investments Group Ltd. increased its stake in Honest by 99.4% in the fourth quarter. Russell Investments Group Ltd. now owns 49,155 shares of the company’s stock worth $341,000 after purchasing an additional 24,498 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the stock in a transaction 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 sale, the senior vice president now owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of the business’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 transaction, the insider now directly owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. The trade was a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

Honest Stock Up 10.5 %

HNST opened at $4.84 on Friday. The stock’s fifty day moving average is $4.73 and its two-hundred day moving average is $5.75. The company has a market capitalization of $533.55 million, a P/E ratio of -121.00 and a beta of 2.43. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $97.25 million for the quarter, compared to analyst estimates of $92.46 million. Equities analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reissued a “market perform” rating and set a $7.00 target price on shares of Honest in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Honest currently has an average rating of “Moderate Buy” and an average price target of $7.70.

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.