The Honest Company, Inc. (NASDAQ:HNST) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 117.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,568,000 shares of the company’s stock after buying an additional 846,300 shares during the period. Renaissance Technologies LLC owned about 1.59% of Honest worth $4,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest during the 1st quarter worth about $3,777,000. Acadian Asset Management LLC lifted 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 worth $2,088,000 after buying an additional 627,464 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Honest by 973.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock valued at $1,742,000 after buying an additional 390,022 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after buying an additional 382,418 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Honest by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after acquiring an additional 268,600 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. B. Riley initiated coverage on Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price for the company. Loop Capital raised Honest from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Tuesday, June 25th. Finally, Northland Securities started coverage on Honest in a report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price objective for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.04.

Honest Stock Performance

NASDAQ:HNST opened at $3.64 on Friday. The Honest Company, Inc. has a 12-month low of $1.06 and a 12-month high of $4.89. The stock’s 50 day simple moving average is $3.92 and its 200-day simple moving average is $3.44. The firm has a market cap of $359.04 million, a P/E ratio of -15.83 and a beta of 1.90.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $93.05 million for the quarter, compared to analysts’ expectations of $87.63 million. Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. During the same period in the previous year, the company posted ($0.14) EPS. Research analysts forecast that The Honest Company, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 approximately $1,775,070.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Honest news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at $1,775,070.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares in the company, valued at $4,227,599.96. The disclosure for this sale can be found here. Insiders sold a total of 2,531,187 shares of company stock worth $9,018,480 over the last 90 days. Company insiders own 8.60% of the company’s stock.

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.