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Arrowstreet Capital Limited Partnership cut its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST – Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 437,127 shares of the company’s stock after selling 41,197 shares during the period. Arrowstreet Capital Limited Partnership owned 0.43% of Honest worth $3,029,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after buying an additional 1,386,961 shares during the last quarter. Vanguard Group Inc. raised its holdings in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after purchasing an additional 1,052,305 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Honest by 377.8% in the third quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company’s stock valued at $2,762,000 after purchasing an additional 611,844 shares during the period. State Street Corp boosted its holdings in Honest by 23.0% in the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after purchasing an additional 220,699 shares in the last quarter. Finally, Pathway Capital Management LP acquired a new position in Honest during the 4th quarter worth approximately $1,287,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, December 17th. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Two equities research 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 company. According to data from MarketBeat.com, Honest currently has an average rating of “Moderate Buy” and an average price target of $7.70.
Read Our Latest Research Report on HNST
Insider Buying and Selling
In other news, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the transaction, the insider now directly owns 431,844 shares in the company, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
Honest Stock Performance
Shares of NASDAQ HNST opened at $4.62 on Thursday. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The stock’s 50-day simple moving average is $5.29 and its 200-day simple moving average is $5.59. The firm has a market cap of $503.16 million, a price-to-earnings ratio of -115.50 and a beta of 2.44.
Honest (NASDAQ:HNST – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The company had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. As a group, research analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current year.
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.
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