Graham Capital Management L.P. Has $887,000 Stake in The Honest Company, Inc. $HNST

Key Points

• Graham Capital Management L.P. increased its stake in The Honest Company, Inc. by 152.0%, owning 188,791 shares valued at approximately $887,000.
• Analysts have set the stock's consensus target price at $6.96, with ratings of "Moderate Buy," "Buy," and "Hold" mixed among them.
• Recent insider transactions include General Counsel Brendan Sheehey selling 12,059 shares, representing a 2.08% decrease in his held shares.

Graham Capital Management L.P. grew its position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 152.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,791 shares of the company's stock after buying an additional 113,872 shares during the quarter. Graham Capital Management L.P. owned 0.17% of Honest worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Summit Securities Group LLC boosted its holdings in Honest by 6,101.8% in the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock valued at $32,000 after acquiring an additional 6,712 shares in the last quarter. DRW Securities LLC bought a new position in shares of Honest during the 1st quarter valued at about $58,000. Aigen Investment Management LP purchased a new stake in shares of Honest during the 1st quarter valued at about $64,000. Bailard Inc. bought a new position in Honest during the 1st quarter valued at about $78,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Honest by 57.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company's stock worth $83,000 after acquiring an additional 6,513 shares in the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Price Performance

NASDAQ:HNST traded up $0.04 during trading hours on Friday, reaching $4.01. 2,458,636 shares of the company were exchanged, compared to its average volume of 3,593,882. The Honest Company, Inc. has a 52-week low of $3.32 and a 52-week high of $8.97. The stock has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $4.71. The firm has a market cap of $446.19 million, a price-to-earnings ratio of 80.22 and a beta of 2.32.

Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.18 million. Honest had a return on equity of 3.84% and a net margin of 1.66%. On average, analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at Honest

In related news, CEO Carla Vernon sold 99,328 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total transaction of $362,547.20. Following the completion of the sale, the chief executive officer owned 2,998,993 shares in the company, valued at $10,946,324.45. This trade represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Winchell sold 10,841 shares of Honest stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $39,569.65. Following the sale, the insider owned 410,257 shares of the company's stock, valued at approximately $1,497,438.05. This represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,890 shares of company stock valued at $481,399. Corporate insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HNST. Morgan Stanley decreased their price target on shares of Honest from $5.50 to $4.25 and set an "equal weight" rating for the company in a report on Friday, August 15th. Telsey Advisory Group reduced their price target on shares of Honest from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Honest presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.96.

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.