GSA Capital Partners LLP Sells 37,204 Shares of The Honest Company, Inc. (NASDAQ:HNST)

GSA Capital Partners LLP reduced its stake in The Honest Company, Inc. (NASDAQ:HNST) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,284 shares of the company’s stock after selling 37,204 shares during the period. GSA Capital Partners LLP’s holdings in Honest were worth $1,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in 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 buying an additional 268,600 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Honest by 117.3% during the second 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Honest during the first quarter valued at approximately $3,777,000. Finally, Acadian Asset Management LLC increased its stake in shares of Honest by 706.1% during the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after purchasing an additional 627,464 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HNST. Telsey Advisory Group raised their target price on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday. Northland Securities raised their target price on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. Alliance Global Partners raised their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley raised their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Insider Buying and Selling

In other news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Carla Vernon sold 52,751 shares of Honest stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $225,774.28. Following the transaction, the chief executive officer now owns 2,828,319 shares in the company, valued at $12,105,205.32. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is owned by insiders.

Honest Trading Up 8.2 %

Shares of HNST stock opened at $6.50 on Friday. The Honest Company, Inc. has a 12-month low of $1.40 and a 12-month high of $6.77. The firm’s 50 day moving average is $3.91 and its 200 day moving average is $3.49. The stock has a market capitalization of $650.52 million, a P/E ratio of -162.50 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.