Easterly Investment Partners LLC Reduces Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Easterly Investment Partners LLC trimmed its position in The Honest Company, Inc. (NASDAQ:HNST) by 55.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,000 shares of the company’s stock after selling 83,000 shares during the period. Easterly Investment Partners LLC owned 0.07% of Honest worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HNST. Victory Capital Management Inc. boosted its stake in Honest by 869.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after acquiring an additional 1,386,961 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock valued at $35,671,000 after purchasing an additional 1,052,305 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Honest by 1,504.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after purchasing an additional 798,384 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Honest by 377.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company’s stock worth $2,762,000 after buying an additional 611,844 shares during the last quarter. Finally, State Street Corp increased its position in Honest by 23.0% during the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after buying an additional 220,699 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

Insider Activity at Honest

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on HNST shares. 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. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research note on Tuesday, December 17th. Finally, Northland Securities increased their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Honest has a consensus rating of “Moderate Buy” and an average price target of $7.42.

Honest Price Performance

Shares of HNST stock opened at $4.98 on Friday. The company’s fifty day moving average price is $5.68 and its 200-day moving average price is $5.55. The company has a market capitalization of $542.37 million, a price-to-earnings ratio of -124.50 and a beta of 2.45. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97.

Honest (NASDAQ:HNST) last announced its quarterly earnings data 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. The business had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. Equities research analysts expect that The Honest Company, Inc. will post -0.07 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.