Wexford Capital LP Reduces Stock Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Wexford Capital LP cut its stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 71.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,991 shares of the company's stock after selling 108,547 shares during the quarter. Wexford Capital LP's holdings in Honest were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 worth $35,671,000 after acquiring an additional 1,052,305 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock valued at $16,616,000 after buying an additional 2,049,981 shares in the last quarter. Renaissance Technologies LLC increased its position in Honest by 20.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after buying an additional 398,603 shares in the last quarter. Nuveen Asset Management LLC increased its position in Honest by 103.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock valued at $14,185,000 after buying an additional 1,041,040 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Honest by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock valued at $12,658,000 after buying an additional 14,539 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Honest

In other news, CEO Carla Vernon sold 98,950 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $526,414.00. Following the transaction, the chief executive officer now owns 3,098,321 shares in the company, valued at $16,483,067.72. The trade was a 3.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Mayle sold 37,481 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 307,740 shares in the company, valued at $1,498,693.80. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,207 shares of company stock worth $1,163,795 in the last 90 days. Insiders own 8.90% of the company's stock.

Analyst Ratings Changes

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price on shares of Honest in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $7.70.

Honest Stock Performance

HNST traded down $0.05 during midday trading on Friday, reaching $4.85. 1,821,193 shares of the company were exchanged, compared to its average volume of 2,323,465. The company's fifty day moving average price is $4.77 and its 200 day moving average price is $5.84. The company has a market cap of $534.65 million, a price-to-earnings ratio of -121.25 and a beta of 2.43. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $97.25 million during the quarter, compared to analyst estimates of $92.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. As a group, sell-side analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

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.