GSA Capital Partners LLP Sells 432,670 Shares of The Honest Company, Inc. (NASDAQ:HNST)

GSA Capital Partners LLP cut its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 50.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 418,660 shares of the company’s stock after selling 432,670 shares during the period. GSA Capital Partners LLP owned 0.43% of Honest worth $1,696,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HNST. Green Alpha Advisors LLC increased its stake in shares of Honest by 1.3% in the first quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock worth $1,681,000 after purchasing an additional 5,249 shares in the last quarter. Wade G W & Inc. increased its stake in shares of Honest by 6.3% in the fourth quarter. Wade G W & Inc. now owns 197,290 shares of the company’s stock worth $651,000 after purchasing an additional 11,685 shares in the last quarter. Valmark Advisers Inc. purchased a new position in Honest during the fourth quarter valued at $431,000. Cornerstone Investment Partners LLC purchased a new position in Honest during the first quarter valued at $161,000. Finally, Jump Financial LLC purchased a new position in Honest during the fourth quarter valued at $120,000. 45.54% of the stock is currently owned by institutional investors.

Honest Price Performance

Shares of Honest stock traded down $0.04 during trading on Wednesday, hitting $2.96. The stock had a trading volume of 338,727 shares, compared to its average volume of 1,006,566. The firm’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $3.16. The Honest Company, Inc. has a 12 month low of $1.06 and a 12 month high of $4.89.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $86.22 million during the quarter, compared to analyst estimates of $83.79 million. Honest had a negative net margin of 6.27% and a negative return on equity of 17.44%. As a group, equities research analysts forecast that The Honest Company, Inc. will post -0.12 EPS for the current year.

Insider Activity

In other news, SVP Thomas Sternweis sold 10,047 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total value of $27,830.19. Following the completion of the sale, the senior vice president now owns 237,211 shares in the company, valued at approximately $657,074.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jessica Warren sold 276,113 shares of Honest stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $3.07, for a total value of $847,666.91. Following the transaction, the insider now owns 1,629,124 shares of the company’s stock, valued at approximately $5,001,410.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas Sternweis sold 10,047 shares of Honest stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $27,830.19. Following the completion of the transaction, the senior vice president now directly owns 237,211 shares in the company, valued at approximately $657,074.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 667,088 shares of company stock worth $1,986,507. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HNST has been the subject of several research analyst reports. Lake Street Capital initiated coverage on shares of Honest in a research note on Thursday, April 4th. They set a “buy” rating and a $6.00 target price for the company. Loop Capital raised shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Tuesday, June 25th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective on shares of Honest in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.55.

About Honest

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.