Cubist Systematic Strategies LLC Sells 221,144 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Cubist Systematic Strategies LLC lessened its position in The Honest Company, Inc. (NASDAQ:HNST) by 48.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,467 shares of the company’s stock after selling 221,144 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Honest were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in shares of Honest during the first quarter valued at about $3,777,000. Renaissance Technologies LLC grew its stake 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 valued at $4,579,000 after buying an additional 846,300 shares during the last quarter. Acadian Asset Management LLC grew its stake 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 valued at $2,088,000 after buying an additional 627,464 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Honest by 973.4% during the first 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Honest by 68.1% during 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. Institutional investors own 45.54% of the company’s stock.

Insiders Place Their Bets

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the firm’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 $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Honest news, EVP Stephen Winchell sold 6,938 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 $29,694.64. Following the completion of the transaction, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,531,187 shares of company stock worth $9,018,480 over the last three months. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HNST. B. Riley began coverage on Honest in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Northland Securities assumed coverage on Honest in a research note on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective on the stock. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Loop Capital upgraded 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Honest has a consensus rating of “Moderate Buy” and a consensus target price of $5.04.

Honest Trading Down 0.6 %

Honest stock opened at $3.57 on Friday. The Honest Company, Inc. has a 1-year low of $1.06 and a 1-year high of $4.89. The firm has a 50-day moving average of $3.88 and a 200-day moving average of $3.38. The firm has a market cap of $352.14 million, a P/E ratio of -15.52 and a beta of 1.87.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. The business had revenue of $93.05 million during the quarter, compared to analyst estimates of $87.63 million. During the same period last year, the business posted ($0.14) earnings per share. Research 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.