The Honest Company, Inc. (NASDAQ:HNST) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in shares of The Honest Company, Inc. (NASDAQ:HNST) by 48.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 236,467 shares of the company’s stock after selling 221,144 shares during the period. Cubist Systematic Strategies LLC’s holdings in Honest were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after purchasing an additional 268,600 shares in the last quarter. Renaissance Technologies LLC increased its position 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 worth $4,579,000 after purchasing an additional 846,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Honest by 68.1% in the second 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. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest in the first quarter valued at approximately $3,777,000. Finally, Acadian Asset Management LLC grew its position 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 worth $2,088,000 after acquiring an additional 627,464 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Honest

In other Honest news, CEO Carla Vernon sold 52,751 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $225,774.28. Following the transaction, the chief executive officer now directly owns 2,828,319 shares in the company, valued at approximately $12,105,205.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carla Vernon sold 52,751 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $225,774.28. Following the completion of the transaction, the chief executive officer now owns 2,828,319 shares in the company, valued at approximately $12,105,205.32. The disclosure for this sale can be found here. Insiders sold a total of 2,531,187 shares of company stock valued at $9,018,480 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Honest Trading Down 0.6 %

NASDAQ HNST opened at $3.49 on Friday. The business’s 50 day moving average is $3.91 and its two-hundred day moving average is $3.41. The Honest Company, Inc. has a 12-month low of $1.06 and a 12-month high of $4.89. The stock has a market capitalization of $344.25 million, a price-to-earnings ratio of -15.17 and a beta of 1.87.

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