PEAK6 Investments LLC Invests $191,000 in The Honest Company, Inc. (NASDAQ:HNST)

PEAK6 Investments LLC acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,635 shares of the company’s stock, valued at approximately $191,000. PEAK6 Investments LLC owned about 0.05% of Honest at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HNST. Renaissance Technologies LLC grew its stake in Honest by 117.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after purchasing an additional 846,300 shares during the period. Acadian Asset Management LLC boosted its position in shares of Honest by 706.1% during the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after acquiring an additional 627,464 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Honest by 68.1% during the 2nd 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. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Honest by 216.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after purchasing an additional 372,749 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Honest

In other news, CEO Carla Vernon sold 65,176 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the sale, the chief executive officer now owns 2,763,143 shares in the company, valued at approximately $19,618,315.30. This represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,634,818 shares of company stock valued at $10,514,671 over the last ninety days. 8.60% of the stock is owned by company insiders.

Honest Trading Up 1.4 %

HNST opened at $8.40 on Friday. The business’s fifty day simple moving average is $5.04 and its 200-day simple moving average is $3.98. The company has a market capitalization of $848.06 million, a price-to-earnings ratio of -210.00 and a beta of 2.42. The Honest Company, Inc. has a 12-month low of $2.22 and a 12-month high of $8.97.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HNST shares. Alliance Global Partners raised their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday. B. Riley raised their price target on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group increased their price objective on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.21.

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.