UBS Group AG Buys 442,542 Shares of The Honest Company, Inc. $HNST

UBS Group AG grew its stake in The Honest Company, Inc. (NASDAQ:HNST) by 77.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,014,939 shares of the company’s stock after acquiring an additional 442,542 shares during the period. UBS Group AG’s holdings in Honest were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Honest by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock worth $235,000 after acquiring an additional 3,210 shares during the period. Millennium Management LLC increased its position in Honest by 16.4% during the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after acquiring an additional 272,765 shares during the period. Goldman Sachs Group Inc. increased its position in Honest by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock worth $5,002,000 after acquiring an additional 163,380 shares during the period. Creative Planning increased its position in Honest by 183.2% during the second quarter. Creative Planning now owns 64,942 shares of the company’s stock worth $331,000 after acquiring an additional 42,008 shares during the period. Finally, Rhumbline Advisers increased its position in Honest by 18.1% during the second quarter. Rhumbline Advisers now owns 134,690 shares of the company’s stock worth $686,000 after acquiring an additional 20,603 shares during the period. 45.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HNST. Morgan Stanley set a $3.40 price target on shares of Honest in a research report on Thursday, May 7th. Wall Street Zen raised shares of Honest from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of Honest in a research report on Thursday, May 7th. Zacks Research raised shares of Honest from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price target on shares of Honest in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Honest has an average rating of “Hold” and an average price target of $3.47.

Honest Stock Up 4.4%

HNST stock opened at $3.56 on Wednesday. The Honest Company, Inc. has a 12 month low of $2.07 and a 12 month high of $5.28. The firm has a market cap of $391.88 million, a P/E ratio of -20.94 and a beta of 2.15. The company’s 50-day moving average price is $3.15 and its two-hundred day moving average price is $2.78.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Honest had a negative net margin of 5.39% and a positive return on equity of 3.52%. The firm had revenue of $78.10 million for the quarter, compared to analyst estimates of $76.25 million. Equities analysts predict that The Honest Company, Inc. will post 0.1 EPS for the current year.

Honest announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Honest

In other Honest news, General Counsel Brendan Sheehey sold 22,556 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $2.85, for a total value of $64,284.60. Following the transaction, the general counsel directly owned 725,672 shares of the company’s stock, valued at $2,068,165.20. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Mayle sold 12,725 shares of Honest stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $2.85, for a total transaction of $36,266.25. Following the sale, the senior vice president directly owned 455,391 shares in the company, valued at $1,297,864.35. This trade represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 366,952 shares of company stock worth $1,097,489. Corporate insiders own 9.40% of the company’s stock.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.