The Honest Company, Inc. (NASDAQ:HNST) Stock Position Lowered by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C lowered its position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 89.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,171 shares of the company's stock after selling 177,585 shares during the quarter. Deerfield Management Company L.P. Series C's holdings in Honest were worth $140,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HNST. Victory Capital Management Inc. raised its stake in shares of Honest by 869.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company's stock valued at $10,716,000 after purchasing an additional 1,386,961 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Honest by 25.7% in the 4th 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 in the last quarter. Invesco Ltd. raised its stake in shares of Honest by 2,035.9% in the 4th quarter. Invesco Ltd. now owns 779,998 shares of the company's stock valued at $5,405,000 after purchasing an additional 743,479 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $2,762,000 after purchasing an additional 611,844 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Honest in the 4th quarter valued at about $4,176,000. Institutional investors and hedge funds own 45.54% of the company's stock.

Honest Price Performance

Shares of NASDAQ:HNST traded up $0.23 during trading on Monday, reaching $5.07. 5,031,990 shares of the company's stock traded hands, compared to its average volume of 2,248,004. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97. The company has a 50 day moving average of $4.73 and a 200-day moving average of $5.76. The stock has a market capitalization of $558.90 million, a P/E ratio of -126.75 and a beta of 2.43.

Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $97.25 million during the quarter, compared to analysts' expectations of $92.46 million. Equities research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $7.00 target price on shares of Honest in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $7.70.

Insiders Place Their Bets

In other news, SVP Jonathan Mayle sold 37,481 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at $1,498,693.80. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Winchell sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now owns 431,844 shares of the company's stock, valued at $2,150,583.12. This trade represents 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 insiders.

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.