Arrowstreet Capital Limited Partnership Has $3.03 Million Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Arrowstreet Capital Limited Partnership decreased its position in The Honest Company, Inc. (NASDAQ:HNST) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,127 shares of the company’s stock after selling 41,197 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Honest were worth $3,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valmark Advisers Inc. lifted its holdings in Honest by 1.7% during the 4th quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock valued at $1,130,000 after purchasing an additional 2,735 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Honest in the 4th quarter valued at about $26,000. Charles Schwab Investment Management Inc. lifted its position in Honest by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after acquiring an additional 7,379 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Honest during the fourth quarter worth approximately $52,000. Finally, Intech Investment Management LLC grew its holdings in Honest by 30.4% in the 4th quarter. Intech Investment Management LLC now owns 37,547 shares of the company’s stock valued at $260,000 after buying an additional 8,748 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on HNST. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, December 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of Honest in a research note on Thursday, February 27th. Two investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Insider Buying and Selling

In other news, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the transaction, the insider now owns 431,844 shares in the company, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares of the company’s stock, valued at $1,498,693.80. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Honest Stock Performance

HNST stock opened at $4.62 on Thursday. The stock’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $5.59. The company has a market cap of $503.16 million, a P/E ratio of -115.50 and a beta of 2.44. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

Honest (NASDAQ:HNST) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The business had revenue of $99.84 million during the quarter, compared to the consensus estimate of $96.46 million. Equities analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

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.