Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

Connor Clark & Lunn Investment Management Ltd. lifted its position in The Honest Company, Inc. (NASDAQ:HNST) by 216.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 545,323 shares of the company’s stock after purchasing an additional 372,749 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Honest were worth $1,947,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Honest in the 1st quarter worth $93,000. Vanguard Group Inc. grew its stake in shares of Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after purchasing an additional 268,600 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Honest during the 1st quarter valued at about $27,000. Quadrature Capital Ltd bought a new position in Honest during the 1st quarter valued at approximately $178,000. Finally, Lazard Asset Management LLC purchased a new stake in Honest in the 1st quarter worth approximately $52,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HNST has been the topic of several research analyst reports. 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 note on Wednesday, November 13th. Telsey Advisory Group upped their price objective on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Northland Capmk raised shares of 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 stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.93.

Insider Buying and Selling at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Winchell sold 7,123 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the sale, the executive vice president now owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,542,680 shares of company stock worth $9,765,589 in the last three months. 8.60% of the stock is currently owned by company insiders.

Honest Stock Performance

Honest stock opened at $8.57 on Tuesday. The Honest Company, Inc. has a one year low of $1.83 and a one year high of $8.97. The stock has a fifty day moving average of $4.41 and a 200 day moving average of $3.73. The stock has a market cap of $865.23 million, a PE ratio of -214.25 and a beta of 1.85.

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.